Broad-based revenue growth led by Industrial & IoT and Communication Infrastructure
2026-Q2 revenue increased 19.5% year over year to $3.496B. Industrial & IoT revenue grew 38.3% to $755M and Communication Infrastructure & Other rose 41.3% to $452M, while Automotive—the largest end market—grew 12.1% to $1.938B. Management attributed the growth primarily to processors, with mixed-signal products also contributing in Automotive and Industrial & IoT.
Margin expansion reflected volume, product mix, and factory efficiency
GAAP gross margin improved to 57.3% in 2026-Q2 from 53.4% a year earlier and from 56.2% in the prior quarter. Management cited higher sales volumes, favorable product mix, improved factory utilization, and manufacturing cost-efficiency initiatives; GAAP operating margin increased to 30.6% from 23.5% year over year.
Distributor sales outpaced direct sales, with growth across all reported regions
Distributor revenue rose 26.7% year over year to $2.072B, compared with a 9.4% increase in direct-customer revenue to $1.375B. By sales-origin geography, revenue increased 34.0% in the Americas, 25.5% in China, 13.6% in APAC excluding China, and 8.9% in EMEA.