Qualcomm beats on fiscal Q1 2026 but guides March quarter well below Street

Qualcomm reported fiscal first-quarter revenue of $12.25 billion, up 5% year over year, and non-GAAP EPS of $3.50. It guided March-quarter revenue to $10.2 billion to $11.0 billion and non-GAAP EPS to $2.45 to $2.65, below the Street's $11.11 billion and $2.89 forecasts. The company blamed memory supply constraints for weaker handset demand and returned $3.6 billion to shareholders in the quarter.

• Revenue $12,252M, up 5% year over year
• Non-GAAP diluted EPS $3.50 (GAAP $2.78)
• Handsets $7,824M (+3%), automotive $1,101M (+15%), IoT $1,688M (+9%)
• QTL licensing revenue $1,592M, up 4%
• Q2 guidance: revenue $10.2B to $11.0B, non-GAAP EPS $2.45 to $2.65
• $3.6B returned: $949M in dividends and $2.6B from buying back 15M shares

SEC filing 8-K · accession 0000804328-26-000016 · sec.gov ↗