Results
7Revenues: $9.9 billion
GAAP EPS: $1.87, Non-GAAP EPS: $2.21
4—Combined QCT Automotive and IoT Revenues Grew 28% Year-Over-Year—
5—QCT Automotive Revenues: 23 Consecutive Quarters of Double-Digit Year-Over-Year Growth—
Corporate events
—Completed Acquisition of Modular Inc Creating an Open Software Foundation for Generative and Agentic AI—
Management commentary
3“Despite a challenging memory and supply environment, our third quarter results reflect solid execution of our growth strategy, with quarterly revenues at the high end of guidance,” said Cristiano Amon, President and CEO of Qualcomm Incorporated.
1“We are well positioned to execute on the vision we outlined at our recent Investor Day, with total non-handset revenues growing to $40 billion by fiscal 2029 – nearly double the target we shared in November 2024.Guidance raised
2In the near term, we expect year-over-year growth in non-handset revenues, including Data Center, to accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027 – a significant inflection point in the execution of our growth strategy.”
Results
Third Quarter Results 1
Segment Results
QCT Revenue Streams 1
Handsets$5,086$6,328(20%)
8Automotive1,588984+61%
IoT (internet of things)1,8301,681+9%
Total QCT revenues$8,504$8,993(5%)
Capital return
Return of Capital to Stockholders
During the third quarter of fiscal 2026, we returned $2.3 billion to stockholders, including $973 million, or $0.92 per share, of cash dividends paid and $1.4 billion through repurchases of 8 million shares of common stock.
Outlook
Business Outlook
Management commentary
The semiconductor industry is experiencing a broad-based increase in input costs, across wafer fabrication, assembly, test, advanced packaging, memory and other materials.
We are taking concrete actions to reflect the higher input costs in our product pricing and expect these actions to benefit our gross margins over time as the pricing changes gradually come into effect.
These factors are reflected in both our fiscal 2026 third quarter performance and fourth quarter guidance.
Outlook
Current Guidance Q4 FY26 Estimates 1
6Revenues$9.7B - $10.5B
Supplemental Revenue Information
QCT revenues$8.4B - $9.0B
QTL revenues$1.2B - $1.4B
GAAP diluted EPS$1.22 - $1.42
Results
Less diluted EPS attributable to QSI$—
Less diluted EPS attributable to share-based compensation($0.72)
Less diluted EPS attributable to other items 2($0.11)
Outlook
Non-GAAP diluted EPS$2.05 - $2.25
(2) Our guidance for diluted EPS attributable to other items for the fourth quarter of fiscal 2026 is primarily related to acquisition-related items.
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