Q1 26 EPS
$3.50
BEAT +2.87%
Est. $3.40
Q1 26 Revenue
$12.25B
BEAT +0.62%
Est. $12.18B
vs S&P Since Q1 26
+25.3%
BEATING MARKET
QCOM +31.6% vs S&P +6.4%
Market Reaction
Did QCOM Beat Earnings? Q1 2026 Results
Qualcomm opened fiscal 2026 with a record first quarter, posting revenue of $12.25 billion, up 5.0% year-over-year and just ahead of the $12.18 billion Wall Street had expected, while non-GAAP diluted EPS of $3.50 came in 2.87% above the $3.40 consen… Read more Qualcomm opened fiscal 2026 with a record first quarter, posting revenue of $12.25 billion, up 5.0% year-over-year and just ahead of the $12.18 billion Wall Street had expected, while non-GAAP diluted EPS of $3.50 came in 2.87% above the $3.40 consensus estimate. The standout driver was the QCT semiconductor segment, which itself hit a record $10.61 billion, fueled by an automotive business that crossed $1.10 billion for the second consecutive quarter, a 15% year-over-year gain that underscores Qualcomm's deliberate push beyond smartphones. The core handset business still grew 3% to $7.82 billion, and IoT contributed a 9% rise to $1.69 billion, rounding out a broad-based performance that investors tracked closely. The optimism carries a caveat, however: Q2 guidance of $10.20 billion to $11.00 billion in revenue and non-GAAP EPS of $2.45 to $2.65 reflects acknowledged headwinds from industry-wide memory supply constraints weighing on handset demand, a concern that has already pressured QCOM shares heading into the print.
Key Takeaways
- • Record QCT Automotive revenues exceeding $1 billion for the second consecutive quarter
- • Strong demand for premium and high-tier smartphones
- • Momentum across personal, industrial and physical AI
- • QTL EBT margin expansion to 77% from 75% year-over-year
- • IoT revenue growth of 9% year-over-year
QCOM YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
QCOM Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are pleased to deliver strong quarterly results, with record total company revenues. Our momentum across personal, industrial and physical AI is growing, as evidenced by recent product announcements at CES and customer traction. While our near-term handsets outlook is impacted by industry-wide memory supply constraints, we are encouraged by end-consumer demand for premium and high tier smartphones, and remain on track to achieve our fiscal 2029 revenue goals.”
— Cristiano Amon, Q1 2026 Earnings Press Release
QCOM Earnings Trends
QCOM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
QCOM EPS Trend
Earnings per share: estimate vs actual
QCOM Revenue Trend
Quarterly revenue: estimate vs actual
QCOM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | $2.65 | — | $10.60B | +0.18% |
| Q1 26 BEAT | $3.40 | $3.50 | +2.87% | $12.25B | +0.62% |
| Q4 25 BEAT FY | $2.87 | $3.00 | +4.53% | $11.27B | — |
| FY Full Year | $11.90 | $12.03 | +1.12% | $44.28B | +1.70% |
| Q3 25 BEAT | $2.71 | $2.77 | +2.05% | $10.37B | +0.12% |
| Q2 25 BEAT | $2.81 | $2.85 | +1.29% | $10.98B | +3.08% |
| Q2 23 BEAT | $2.15 | $2.15 | +0.00% | $9.28B | +1.94% |