Qualcomm (QCOM) Q4 2026 earnings summary

Executive summary

• Q4 FY26 non-GAAP revenue was $10.442B, down 7% YoY, and diluted EPS was $2.17, down 28%; Automotive and IoT growth partly offset handset weakness.

• FY26 non-GAAP revenue was $43.240B, down 2%, and non-GAAP diluted EPS was $10.54, down 12%; Automotive revenue rose 52%.

• FY27 non-handset revenue is projected to grow more than 60% YoY, with a $5B Data Center target and a $7B annualized exit run rate.

Financial highlights

• Q4 GAAP revenue was $10.322B, down 8% YoY; non-GAAP EBT was $2.666B, down 30%, and non-GAAP net income was $2.332B, down 28%.

• FY26 GAAP revenue was $43.120B and GAAP net income was $13.628B; non-GAAP net income was $11.311B, down 15% YoY.

• Q4 QCT revenue was $9.015B and QTL revenue was $1.304B; QCT and QTL EBT margins were 24% and 70%, respectively.

• Q4 returned $2B to stockholders, split evenly between share repurchases and dividends; FY26 returns totaled $11.671B.

Outlook and guidance

• Q1 FY27 non-GAAP revenue guidance is $10.4B–$11.2B and diluted EPS guidance is $2.15–$2.35; QCT revenue guidance is $9.0B–$9.6B.

• FY27 Data Center revenue target remains $5B; Q1 revenue is expected to exceed $650M, with a $7B annualized exit run rate. FY29 target is $15B+.

• FY27 QCT non-handset revenue is expected to grow more than 60% YoY and exceed 50% of QCT revenue; FY29 non-handset target is $40B.

• Product pricing actions are expected to deliver their full QCT gross-margin benefit in H2 FY27.