Companies /Technology

Qualcomm Inc

NASDAQ: QCOM Semiconductors
$164.19
▼ $0.59 (−0.36%) today
Markets closed · 11:03pm ET

Q1 2026 Earnings

Reported Feb 4, 2026, 4:00pm ET · SEC source
$3.50
Beat +2.87%
EPS · est. $3.40
$12.3B
Beat +0.62%
Revenue · est. $12.2B
−0.8%
Trailing market
QCOM vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−5%0+5%+10%Feb 4Feb 5report 4:00pm ETearnings−1.8%−2.1%
−5%0+5%+10%Feb 4Feb 5earnings−1.8%−2.1%
QCOM −2.1%S&P 500 −1.8%
−5%0+5%+10%Feb 4Feb 5report 4:00pm ETearnings−2.3%−2.1%
−5%0+5%+10%Feb 4Feb 5earnings−2.3%−2.1%
QCOM −2.1%NASDAQ −2.3%
0+5%+10%Feb 3Feb 12report 4:00pm ETearnings−0.9%+2.6%
0+5%+10%Feb 3Feb 12earnings−0.9%+2.6%
QCOM +2.6%S&P 500 −0.9%
0+5%+10%Feb 3Feb 12report 4:00pm ETearnings−1.1%+2.6%
0+5%+10%Feb 3Feb 12earnings−1.1%+2.6%
QCOM +2.6%NASDAQ −1.1%
−8.46%
Day of report
+0.76%
Next session
+1.59%
One week
−0.81%
30 days

S&P 500 over the same 30 days: −0.06%.

Did QCOM Beat Earnings? Q1 2026 Results

Qualcomm opened fiscal 2026 with a record first quarter, posting revenue of $12.25 billion — up 5.0% year-over-year and just ahead of the $12.18 billion Wall Street had expected — while non-GAAP diluted EPS of $3.50 came in 2.87% above the $3.40 consensus estimate. The standout driver was the QCT semiconductor segment, which itself hit a record $10.61 billion, fueled by an automotive business that crossed $1.10 billion for the second consecutive quarter, a 15% year-over-year gain that underscores Qualcomm's deliberate push beyond smartphones. The core handset business still grew 3% to $7.82 billion, and IoT contributed a 9% rise to $1.69 billion, rounding out a broad-based performance that <a href="https://247wallst.com/investing/2026/02/04/qualcomm-live-complete-coverage-of-qcoms-q1-earnings/">investors tracked closely</a>. The optimism carries a caveat, however: Q2 guidance of $10.20 billion to $11.00 billion in revenue and non-GAAP EPS of $2.45 to $2.65 reflects acknowledged headwinds from industry-wide memory supply constraints weighing on handset demand — a concern that has already pressured QCOM shares heading into the print.

Key Takeaways
  • Record QCT Automotive revenues exceeding $1 billion for the second consecutive quarter
  • Strong demand for premium and high-tier smartphones
  • Momentum across personal, industrial and physical AI
  • QTL EBT margin expansion to 77% from 75% year-over-year
  • IoT revenue growth of 9% year-over-year

“We are pleased to deliver strong quarterly results, with record total company revenues. Our momentum across personal, industrial and physical AI is growing, as evidenced by recent product announcements at CES and customer traction. While our near-term handsets outlook is impacted by industry-wide memory supply constraints, we are encouraged by end-consumer demand for premium and high tier smartphones, and remain on track to achieve our fiscal 2029 revenue goals.”

Qualcomm CEO, on the earnings call

Forward Guidance & Outlook

For Q2 FY26, Qualcomm guides total revenues of $10.2 billion to $11.0 billion, with QCT revenues of $8.8 billion to $9.4 billion and QTL revenues of $1.2 billion to $1.4 billion. GAAP diluted EPS is guided at $1.69 to $1.89, and Non-GAAP diluted EPS at $2.45 to $2.65. Guidance reflects the estimated impact of memory supply constraints and related pricing on demand from several handset customers. The outlook includes the recently acquired Alphawave Semi in the Data Center nonreportable segment. The company remains on track to achieve its fiscal 2029 revenue goals.

QCOM YoY Financials

Q1 2026 vs Q1 2025 · SEC filings Q1 2025 Q1 2026
$0$4.0B$8.0B$12.0B$11.7B$12.3BRevenue$6.5B$6.7BGross Profit$3.6B$3.4BOperating Income$3.2B$3.0BNet Income
$0$4.0B$8.0B$12.0BRevenueGross ProfitOperating IncomeNet Income

QCOM Revenue by Segment

QCT$10.6B+5.0%
Handsets$7.8B+3.0%
IoT$1.7B+9.0%
QTL$1.6B+4.0%
Automotive$1.1B+15.0%

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