Q3 26 EPS
$2.21
MISS 0.49%
Est. $2.22
Q3 26 Revenue
$9.95B
BEAT +2.84%
Est. $9.67B
vs S&P Since Q3 26
-2.7%
TRAILING MARKET
QCOM +1.3% vs S&P +4.0%
Market Reaction
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. T… Read more 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
QCOM 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, source: SEC Filings
QCOM Revenue by Segment
With YoY comparisons, source: SEC Filings
“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.”
— Cristiano Amon, Q3 2026 Earnings Press Release
QCOM Earnings Trends
QCOM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
QCOM EPS Trend
Earnings per share: estimate vs actual
QCOM Revenue Trend
Quarterly revenue: estimate vs actual
QCOM Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 MISS | $2.22 | $2.21 | -0.49% | $9.95B | +2.84% |
| Q2 26 BEAT | $2.56 | $2.65 | +3.67% | $10.60B | +0.18% |
| Q1 26 BEAT | $3.40 | $3.50 | +2.87% | $12.25B | +0.62% |
| Q4 25 BEAT FY | $2.87 | $3.00 | +4.40% | $11.27B | +4.77% |
| FY Full Year | $11.90 | $12.03 | +1.12% | $44.28B | +1.70% |
| Q3 25 BEAT | $2.71 | $2.77 | +2.05% | $10.37B | +0.12% |
| Q2 25 BEAT | $2.81 | $2.85 | +1.29% | $10.98B | +3.08% |
| Q2 23 BEAT | $2.15 | $2.15 | +0.00% | $9.28B | +1.94% |