EarningsQ3 2026 Earnings Report

Qualcomm (QCOM) Q3 2026 Earnings Report

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Previous Report: Q2 2026

MX:QCOM Q3 2026 EPS Results

Actual EPS$37.62

Consensus EPS$38.01

Beat/MissMissed by -$0.39

One Year Ago EPS$47.16

MX:QCOM Q3 2026 Revenue Results

Actual Revenue$169.33B

Expected Revenue$165.04B

Beat/MissBeat by +$4.29B

YoY Revenue Growth-4.03%

Earnings Announcement Details

QuarterQ3 2026

Date07/29/2026

TimeAfter Close

Conference CallWednesday, July 29, 2026

MX:QCOM Upcoming Earnings

Qualcomm's next earnings date is estimated for November 11, 2026, based on past reporting schedules.

Q3 2026 Earnings Call Audio

MX:QCOM Q3 2026 Earnings Call

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Q3 2026 Earnings Slide Deck

Q3 2026 Earnings Call Summary

Q3 2026

Earnings Call Date:Jul 29, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a materially positive long-term outlook driven by clear diversification progress: record automotive results, robust IoT and industrial design wins, concrete early data center milestones (tape-out, two custom wins with wafers in production) and an expanded FY2029 non-handset target to $40B. Short-term challenges include elevated memory and input costs, supply constraints that materially reduce expected Apple revenue, handset-market weakness (Android down ~20% YoY), and near-term gross-margin pressure (partly offset over time by double-digit pricing actions). Given the magnitude and strategic significance of the wins and targets versus manageable near-term cost and supply headwinds, the highlights outweigh the lowlights.

Company Guidance

Qualcomm guided fourth‑fiscal‑quarter revenue of $9.7–$10.5 billion and non‑GAAP EPS of $2.05–$2.25, with QTL revenue of $1.2–$1.4 billion (EBT margin 68–72%) and QCT revenue of $8.4–$9.0 billion (EBT margin 23–25%); within QCT they expect roughly $5.2 billion of handset revenue, IoT about flat year‑over‑year with double‑digit growth in industrial networking and robotics, and another record automotive quarter of ~60% YoY growth. They forecast non‑GAAP operating expenses of about $2.7 billion in the quarter, are implementing double‑digit price increases to offset rising input costs (with benefit layering in over a few quarters), and expect QCT gross margins to be slightly below historical range near‑term (with data‑center custom chips diluting QCT gross margin by ~1.5–2%). Two custom data‑center silicon engagements are revenue‑generating beginning in the December quarter, the company expects data‑center revenue of $5 billion in FY‑27 and $15 billion in FY‑29, and updated targets call for $40 billion of non‑handset revenue by FY‑29 (automotive+IoT >$24B, data center >$15B), with non‑handsets >50% of QCT in FY‑27 and ~2/3 in FY‑29; they also raised the automotive exit annualized run rate to ~ $7 billion, see an $8B industrial target for FY‑29 and report a >$7B industrial design‑win pipeline (>$3.5B won this fiscal year).

Strong Q3 Revenue and EPS

Reported revenue of $9.9 billion (at the high end of guidance) and non-GAAP EPS of $2.21.

QCT Revenue and Segment Strength

QCT revenues of $8.5 billion with handset revenue of $5.1 billion, IoT revenue of $1.8 billion (up 9% YoY) and record automotive revenue of $1.6 billion (up 61% YoY). Total QCT non-handset revenues grew 28% YoY.

Automotive Momentum and Raised Exit Run Rate

Signed a lead compute silicon agreement with BMW and collaboration with Stellantis; fifth-generation Snapdragon digital chassis ramping in September. Automotive annualized revenue run rate exiting fiscal 2026 raised to approximately $7 billion (previous target was $6 billion).

Data Center Entry and Technical Milestones

Announced multi-product data center strategy (connectivity in FY26, custom silicon and AI accelerators in FY27, server-class CPUs in FY28). Completed tape-out of HBC Gen 1, begun wafer production on two near-term custom silicon wins that will generate revenue starting in the December quarter, and expect HBC solution launch mid-2027.

Ambitious Long-Term Non-Handset and Data Center Targets

Updated FY2029 targets: non-handset revenue outlook to $40 billion (up from prior $22 billion). Data center revenue targets of $5 billion in FY27 and $15 billion in FY29. Expect non-handsets to be >50% of QCT in FY27 and ~2/3 in FY29.

Strategic Acquisition to Strengthen AI Software Stack

Closed acquisition of Modular Inc.; integration underway to provide a hardware-agnostic, end-to-end AI software stack and accelerate developer ecosystem engagement (ModCon event planned).

Industrial and IoT Traction

Industrial design win pipeline exceeds $7 billion with over $3.5 billion in design wins this fiscal year; introduced FY29 projection of $8 billion in revenue for industrial networking and robotics. Channel presence exceeds 38,000 customers; reach extended to more than 30 million users via Arduino and Edge Impulse.

Ecosystem Wins and New Form-Factors

Snapdragon powering ~70% of Samsung flagship devices; partnerships with Google (Chromebook / Gemini) and Microsoft (Project Solara); Snapdragon Start program for smart glasses to accelerate new form-factor adoption.

Shareholder Returns

Returned $2.3 billion to stockholders in the quarter, including $1.4 billion in share repurchases and $937 million in dividends.

Q4 Guidance and Investment

Q4 revenue guidance of $9.7 billion to $10.5 billion and non-GAAP EPS of $2.05 to $2.25. Planned non-GAAP operating expenses of approximately $2.7 billion reflecting Modular acquisition and continued data center investment.

MX:QCOM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 11, 2026	2026 (Q4)	36.96 / -	51.071	―
Jul 29, 2026	2026 (Q3)	38.01 / 37.62	47.155	-20.22% (-9.53)
Apr 29, 2026	2026 (Q2)	43.55 / 45.11	48.517	-7.02% (-3.40)
Feb 04, 2026	2026 (Q1)	57.66 / 59.58	58.05	2.64% (+1.53)
Nov 05, 2025	2025 (Q4)	48.94 / 51.07	45.793	11.52% (+5.28)
Jul 30, 2025	2025 (Q3)	46.20 / 47.16	39.665	18.88% (+7.49)
Apr 30, 2025	2025 (Q2)	48.01 / 48.52	41.538	16.80% (+6.98)
Feb 05, 2025	2025 (Q1)	50.36 / 58.05	46.815	24.00% (+11.24)
Nov 06, 2024	2024 (Q4)	43.58 / 45.79	34.388	33.17% (+11.41)
Jul 31, 2024	2024 (Q3)	38.29 / 39.66	31.834	24.60% (+7.83)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed