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EarningsQ3 2026 Earnings Report

Qualcomm (QCOM) Q3 2026 Earnings Report

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Previous Report: Q2 2026

QCOM Q3 2026 EPS Results

Actual EPS$2.21

Consensus EPS$2.23

Beat/MissMissed by -$0.02

One Year Ago EPS$2.77

QCOM Q3 2026 Revenue Results

Actual Revenue$9.95B

Expected Revenue$9.69B

Beat/MissBeat by +$252.10M

YoY Revenue Growth-4.03%

Earnings Announcement Details

QuarterQ3 2026

Date07/29/2026

TimeAfter Close

Conference CallWednesday, July 29, 2026

QCOM Upcoming Earnings

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

Q3 2026 Earnings Call Audio

QCOM Q3 2026 Earnings Call

0:00 / 0:00

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.

QCOM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Nov 11, 2026	2026 (Q4)	2.17 / -	3	―
Jul 29, 2026	2026 (Q3)	2.23 / 2.21	2.77	-20.22% (-0.56)
Apr 29, 2026	2026 (Q2)	2.56 / 2.65	2.85	-7.02% (-0.20)
Feb 04, 2026	2026 (Q1)	3.39 / 3.50	3.41	2.64% (+0.09)
Nov 05, 2025	2025 (Q4)	2.88 / 3.00	2.69	11.52% (+0.31)
Jul 30, 2025	2025 (Q3)	2.71 / 2.77	2.33	18.88% (+0.44)
Apr 30, 2025	2025 (Q2)	2.82 / 2.85	2.44	16.80% (+0.41)
Feb 05, 2025	2025 (Q1)	2.96 / 3.41	2.75	24.00% (+0.66)
Nov 06, 2024	2024 (Q4)	2.56 / 2.69	2.02	33.17% (+0.67)
Jul 31, 2024	2024 (Q3)	2.25 / 2.33	1.87	24.60% (+0.46)

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