Qualcomm (QCOM) Q4 2026 Earnings
Non-GAAP excludes $235 million of restructuring and restructuring-related charges, $141 million of acquisition-related charges, a $120 million revenue-reducing payment to a customer from a legal settlement, QSI results, and share-based compensation; GAAP diluted EPS was $1.17.
How Did QCOM Stock React to Q4 2026 Earnings?
Did QCOM Beat Earnings? Q4 2026 Results
Yes. Qualcomm reported Q4 2026 earnings of $2.17 a share on Nov 4, 2026, beating the $2.16 consensus estimate by 0.6%. Revenue was $10.3B against a $10.1B estimate.
Qualcomm closed its fiscal fourth quarter with results that edged past Wall Street's expectations, though a sharp pullback in handset demand kept the headline numbers well below year-ago levels. The chipmaker posted adjusted non-GAAP EPS of $2.17, nudging ahead of the $2.16 consensus by 0.64%, while revenue of $10.32 billion beat estimates of $10.14 billion by 1.78%, even as sales fell 8.4% from the prior-year quarter. The central tension in the results was a 26% collapse in QCT Handsets revenue to $5.14 billion, which overshadowed a remarkable 89% surge in Automotive revenue to $1.99 billion and a 4% gain in IoT to $1.89 billion. CEO Cristiano Amon framed fiscal 2027 as the start of a "non-handset revenue inflection," with management projecting non-handset revenues will grow more than 60% year-over-year and reiterating a $5.00 billion Data Center revenue target, a push underlined by a newly announced product collaboration with Amazon for AI infrastructure. For the first fiscal quarter of 2027, Qualcomm guided revenue of $10.40 billion to $11.20 billion and non-GAAP EPS of $2.15 to $2.35.
- Record QCT Automotive revenues of $1,990 million, up 89% year-over-year
- Combined QCT Automotive and IoT revenues grew 36% year-over-year
- QCT Handsets revenues declined 26% year-over-year
- QTL revenues declined 7% with EBT margin of 70% versus 72%
- QCT EBT margin fell to 24% from 29%
- Higher R&D and SG&A expenses year-over-year
- $235 million restructuring and restructuring-related charges in Q4
“We are pleased to deliver fourth quarter non-GAAP revenues at the high end of our guidance, along with 36% year-over-year growth in combined QCT Automotive and IoT revenues.”
Qualcomm CEO, on the earnings call
What Is Qualcomm's Outlook?
For Q1 fiscal 2027, Qualcomm guides: - Revenues of $10.4B–$11.2B. - QCT revenues of $9.0B–$9.6B, now inclusive of Data Center. - QTL revenues of $1.3B–$1.5B. - GAAP diluted EPS of $1.03–$1.23. - Non-GAAP diluted EPS of $2.15–$2.35. Management expects non-handset revenues to grow more than 60% year-over-year in fiscal 2027 and reiterated a fiscal 2027 Data Center revenue target of $5B. Industry-wide input-cost increases are being addressed through product pricing actions. The full benefit is expected in QCT gross margins in the second half of fiscal 2027.
QCOM YoY Financials
| Metric | Q4 2026 | Q4 2025 | Year over year |
|---|---|---|---|
| Revenue | $10.3B | $11.3B | −8.4% |
| Operating Income | $1.4B | $2.9B | −53.5% |
| Net Income | $1.3B | $521.0M | +140.1% |
QCOM Revenue by Segment
When Does Qualcomm Report Next?
Figures from SEC filings and company reports. Not investment advice.