QUALCOMM Incorporated (QCOM) Earnings
QUALCOMM Incorporated is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $2.23. QCOM has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +3.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 29, 2026 | $2.56 | $2.65 | +3.5% | $10.6B | +0.1% |
| Feb 4, 2026 | $3.39 | $3.50 | +3.2% | $12.3B | +1.1% |
| Nov 5, 2025 | $2.87 | $3.00 | +4.5% | $11.3B | +4.7% |
| Jul 30, 2025 | $2.71 | $2.77 | +2.2% | $10.4B | +0.3% |
| Apr 30, 2025 | $2.82 | $2.85 | +1.1% | $11.0B | +3.1% |
| Feb 5, 2025 | $2.96 | $3.41 | +15.2% | $11.7B | +6.9% |
| Jul 31, 2024 | $2.25 | $2.33 | +3.6% | $9.4B | +1.9% |
| May 1, 2024 | $2.32 | $2.44 | +5.2% | $9.4B | +0.4% |
| Jan 31, 2024 | $2.37 | $2.75 | +16.0% | $9.9B | +4.5% |
| Nov 1, 2023 | $1.92 | $2.02 | +5.2% | $8.6B | +7.5% |
| Aug 2, 2023 | $1.81 | $1.87 | +3.3% | $8.5B | -0.6% |
| May 3, 2023 | $2.16 | $2.15 | -0.5% | $9.3B | +1.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 29, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Automotive: Exceeded $5 billion in annualized revenues in Q2, expects to exit fiscal 26 at a run rate above $6 billion, with fourth-generation Snapdragon digital chassis platform driving growth, and will begin commercial shipments of fifth-generation platform. IoT: Agentic workloads and edge AI driving product renewal, Dragon Wing IQ10 platform generating customer interest, multi-year agreement with Nura, Ventuno Q introduced. Personal AI: Significant increase in new smart glasses expected in second half of year, Snapdragon X2 PC platforms in production. Data center: AlphaWave integration off to good start, entering custom silicon space, initial shipments expected in December quarter. Handsets: China Android revenue bottoming out in fiscal Q3, agentic smartphones expected to influence premium tier.
Guidance
Third fiscal quarter forecast: Revenues $9.2 to $10 billion, non-GAAP EPS $2.10 to $2.30. QTL revenues $1.15 to $1.35 billion, EBT margins 67% to 71%. QCT revenues $7.9 to $8.5 billion, EBT margins 25% to 27%. QCT handset revenues from Chinese customers expected to bottom in Q3 and return to sequential growth in Q4. QCT IoT revenues expected to grow high single digits y/y. QCT Automotive expected to see year-over-year revenue growth accelerate to approx 50% in third fiscal quarter.
Segment performance
In Fiscal Q2, QCT revenues were $9.1 billion. Licensing business revenues were $1.4 billion. QCT IoT revenues were $1.7 billion, up 9% year-over-year. QCT Automotive revenues were $1.3 billion, representing 38% year-over-year growth. On a combined basis, QCT automotive and IoT revenues grew 20% year-over-year.
Risks & headwinds
Impact of memory industry dynamics on handset business, uncertainty in memory supply and price increases affecting handset OEMs' build plans. Market competition and evolving technology trends posing challenges.
Analyst Q&A
Q: About custom silicon engagement with large hyperscaler, any details?
A: Can't provide much detail, it's a large hyperscaler, multi-generation engagement.
Q: Why confident China Android sales bottom in Q3?
A: Impact of channel inventory drawdown factor, and licensing business visibility on sell-through.
Q: Competitive landscape in data center?
A: CPU, accelerator, edge position, and agentic transition implications.
Q: Handset seasonality into September quarter?
A: China handsets bottom in Q3, Apple product revenue growth quarter, those are input factors.
Q: Automotive ADAS mix impact?
A: Significant revenue accelerator, transitioning to SIP sale and software opportunity helps margin.