QCOM Q2 2023

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q2 2023

Earnings

Qualcomm matched Wall Street's earnings expectations while edging past revenue estimates in its fiscal second quarter, though the headline numbers masked a steep year-over-year deterioration driven by a punishing smartphone downturn. The chipmaker re… Read more Qualcomm matched Wall Street's earnings expectations while edging past revenue estimates in its fiscal second quarter, though the headline numbers masked a steep year-over-year deterioration driven by a punishing smartphone downturn. The chipmaker reported non-GAAP EPS of $2.15, in line with the $2.15 consensus, while revenue of $9.28 billion came in roughly 1.94% above estimates, yet still fell 16.9% from the year-ago period as weak global handset demand and persistent channel inventory drawdowns hammered its core QCT semiconductor segment, which saw revenues slide 17% to $7.94 billion. Automotive remained a rare bright spot, climbing 20% year-over-year to $447 million, underscoring Qualcomm's push to diversify beyond smartphones, a strategy reinforced by its recently announced acquisition of Israeli auto-chip maker Autotalks. Shares fell sharply following the results as management guided Q3 revenues to $8.10 billion to $8.90 billion, with non-GAAP EPS of $1.70 to $1.90, citing a notable sequential QCT revenue decline tied to purchase timing by a key modem-only customer and little sign of near-term recovery in China handset demand.