Companies /Technology

Qualcomm Inc

NASDAQ: QCOM Semiconductors
$164.19
▼ $0.59 (−0.36%) today
Markets closed · 6:53pm ET

Q3 2026 Earnings

Reported Jul 29, 2026, 4:01pm ET · SEC source
$2.21
Miss −0.49%
EPS · est. $2.22
$9.9B
Beat +2.84%
Revenue · est. $9.7B
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−4%0+4%+8%Jul 29Jul 30report 4:01pm ETearnings+2.1%+3.2%
−4%0+4%+8%Jul 29Jul 30earnings+2.1%+3.2%
QCOM +3.2%S&P 500 +2.1%
−4%0+4%+8%Jul 29Jul 30report 4:01pm ETearnings+4.3%+3.2%
−4%0+4%+8%Jul 29Jul 30earnings+4.3%+3.2%
QCOM +3.2%NASDAQ +4.3%
0+5%+10%Jul 28Aug 6report 4:01pm ETearnings+5.5%+9.5%
0+5%+10%Jul 28Aug 6earnings+5.5%+9.5%
QCOM +9.5%S&P 500 +5.5%
0+5%+10%Jul 28Aug 6report 4:01pm ETearnings+8.4%+9.5%
0+5%+10%Jul 28Aug 6earnings+8.4%+9.5%
QCOM +9.5%NASDAQ +8.4%
−2.62%
Day of report
−2.63%
Next session
+5.80%
One week

Did QCOM Beat Earnings? Q3 2026 Results

Qualcomm delivered a mixed fiscal third quarter for 2026, topping revenue expectations while falling just short on earnings, as rising semiconductor input costs across wafer fabrication, packaging, and memory squeezed margins throughout the period. The chipmaker posted non-GAAP diluted EPS of $2.21, missing the $2.22 consensus by 0.49% and snapping a six-consecutive-quarter streak of beating EPS estimates, while revenue of $9.95 billion cleared the $9.67 billion consensus by 2.84%, though it still marked a 4.0% decline from the year-ago period. The clearest bright spot came from automotive, where revenues surged 61% year-over-year to $1.59 billion, a trajectory reinforced by a newly announced long-term chip supply agreement with BMW for AI-enabled vehicle platforms. Handset revenues, however, fell 20% to $5.09 billion, remaining the primary drag on overall results. Looking ahead, Qualcomm guided Q4 revenues of $9.70 billion to $10.50 billion with non-GAAP EPS of $2.05 to $2.25, and CEO Cristiano Amon outlined an ambitious target of $40.00 billion in total non-handset revenues by fiscal 2029.

Key Takeaways
  • QCT Automotive revenues grew 61% year-over-year, 23 consecutive quarters of double-digit YoY growth
  • Combined QCT Automotive and IoT revenues grew 28% year-over-year
  • IoT revenues grew 9% year-over-year
  • Handset revenues declined 20% year-over-year
  • Rising semiconductor input costs across wafer fabrication, assembly, test, advanced packaging, and memory compressed margins

“Despite a challenging memory and supply environment, our third quarter results reflect solid execution of our growth strategy, with quarterly revenues at the high end of guidance.”

Qualcomm CEO, on the earnings call

Forward Guidance & Outlook

For Q4 FY26, Qualcomm guided total revenues of $9.7B–$10.5B, QCT revenues of $8.4B–$9.0B, QTL revenues of $1.2B–$1.4B, GAAP diluted EPS of $1.22–$1.42, and Non-GAAP diluted EPS of $2.05–$2.25. The company noted the semiconductor industry is experiencing broad-based increases in input costs across wafer fabrication, assembly, test, advanced packaging, memory, and other materials. Qualcomm is taking pricing actions to reflect higher input costs and expects these to benefit gross margins over time. CEO Cristiano Amon projected non-handset revenue growth, including Data Center, accelerating from 24% in FY2026 to greater than 60% in FY2027, and total non-handset revenues reaching $40 billion by FY2029.

QCOM YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$3.0B$6.0B$9.0B$10.4B$9.9BRevenue$5.8B$5.3BGross Profit$2.8B$1.6BOperating Income$2.7B$2.0BNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income

QCOM Revenue by Segment

QCT$8.5B−5.0%
Handsets$5.1B−20.0%
IoT$1.8B+9.0%
QTL$1.3B−3.0%
Automotive$1.6B+61.0%

Figures from SEC filings and company reports. Not investment advice.