Qualcomm Stock Earnings Reports

Qualcomm reported fiscal Q3 revenue of $10.4B and non-GAAP EPS of $2.77, near the high end of guidance. QCT (chipset) revenue was $9.0B and QTL (licensing) was $1.3B. Key growth drivers were automotive (+21% YoY) and IoT (+24% YoY). Handset revenue grew 7% YoY driven by premium-tier demand and the Snapdragon 8 Elite (124 designs shipped/announced). Strategic customer wins included a multiyear Snapdragon agreement with Xiaomi and continued strong design traction across AI PCs (multiple OEM launches and >100 designs targeted through 2026). XR (smart glasses) momentum continued with 19 designs and notable demand for Meta devices. Qualcomm announced expansion into the data center market (NPU-based inference accelerators, custom SoCs using Oryon CPU) and an agreement to acquire Alphawave IP to strengthen high-speed connectivity and data center design capabilities, with the deal expected to close in Q1 calendar 2026. Management said potential data center revenues could begin in fiscal 2028 if engagements convert. The company returned $3.8B to shareholders in the quarter (including $2.8B repurchases), reaffirmed commitment to return 100% of free cash flow for the fiscal year, and reiterated margin discipline (QCT EBT margin at the high end of range). Q4 guidance: revenues $10.3B–$11.1B and non-GAAP EPS $2.75–$2.95; QCT revenue guide $9.0B–$9.6B with EBT margin 27%–29%. Management reiterated multi-year targets: $22B combined automotive + IoT revenue by fiscal 2029 and a long-term margin profile near prior targets, driven by diversification beyond handsets into automotive, IoT, XR, PCs and data center inference.