MergerJul 28, 2026, 04:19 PM
Qorvo Q1 Net Income $85.8M; Skyworks Merger on Track
AI Summary
Qorvo reported Q1 results with net income of $85.8 million and diluted EPS of $0.96, alongside a revenue decrease to $784.8 million. The company provided an update on its proposed merger with Skyworks Solutions, Inc., noting stockholder approvals and progress on regulatory reviews, with hopes for a calendar year close. Qorvo also incurred $14.9 million in merger-related costs and $11.7 million in restructuring charges during the quarter.
Key Highlights
- Skyworks merger progressing, with Qorvo hopeful for a calendar year close.
- Q1 Net Income increased to $85.8 million from $25.6 million year-over-year.
- Q1 Diluted EPS rose to $0.96 from $0.27 year-over-year.
- Q1 Revenue decreased to $784.8 million from $818.8 million year-over-year.
- Merger-related costs totaled $14.9 million for the quarter.
- Restructuring charges amounted to $11.7 million, including employee termination benefits.
- High Performance Analog (HPA) segment revenue grew to $206.4 million.
- No common stock repurchases were made during the quarter.
- Cash and cash equivalents increased to $1.33 billion from $1.22 billion sequentially.
Price Impact
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