Earnings

The company released third quarter 2026 results after the close on November 3, 2026 and held its call that afternoon.

The weak point was bookings. Total contract value grew 6% to USD 2.9 billion, far slower than revenue, and US commercial contract value rose 11% to USD 1.5 billion. Revenue growth that outpaces bookings can signal that future growth will slow, and a stock …

CEO Lisa Su reportedly said revenue could grow more than 80% in 2027, compared with a prior long-term target of 35% or higher, though this came from a single published account and is a management view, not a guarantee. The setup was unusual. AMD …

Gross margin edged lower, which is the main caveat. GAAP gross margin was 63.6%, down from 64.6% a year earlier, and non-GAAP gross margin was 64.0%, down from 65.2%. Fast growth in large cloud and AI customers can bring lower margins because of pricing …

Fast growth has a cost. Gross margin of about 12.7% remains thin compared with the 17.5% of the prior quarter, partly reflecting product and customer mix, although the exact cause was not verified here. A year earlier it was 9.3%, so margin remains above …

The December-quarter outlook is about 7% lower sequentially than combined September revenue, or about 3% lower excluding an extra week in Qorvo's prior quarter. Smartphone revenue is expected to fall by a low-teens rate sequentially, while Diversified Growth Markets revenue should rise in the …

The implied Tuesday close was near USD 3.49 (calculated from the screen figures). Revenue growth was modest at about 1%, so the market appears to be focused on margin improvement, new orders and the facility expansion.