Qorvo reported fiscal 2025 second quarter GAAP revenue of $1.047 billion, a gross margin of 42.6%, and a loss per share of $0.18. On a non-GAAP basis, the company achieved a gross margin of 47.0% and diluted earnings per share of $1.88, exceeding the midpoint of its guidance.
For the December 2024 quarter, Qorvo provided an outlook for revenue between $850 million and $900 million, with non-GAAP diluted earnings per share projected to be between $0.80 and $1.00. Management indicated that full-year fiscal 2025 revenue and gross margin are expected to be slightly down compared to fiscal 2024.
The company noted that while flagship and premium smartphone tiers were holding up, an unfavorable mix and a shift towards entry-tier 5G in the Android market were impacting performance. In response, Qorvo is implementing factory consolidation and operating expense reductions, focusing on opportunities aligned with long-term profitability objectives.
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