April 30, 2026 – On April 29 local time, Qualcomm unveiled its financial results for the second quarter of the 2026 fiscal year, delivering a performance that generally met expectations while showcasing the effectiveness of its diversification strategy.
Overall Financial Performance
In this quarter, Qualcomm reported total revenues of 10.6billion.Underthenon−GAAP(GenerallyAcceptedAccountingPrinciples)framework,earningspersharereached2.65, which was at the high end of the company’s previous guidance range and exceeded market expectations of $2.55.
In terms of GAAP revenues, the company also recorded $10.6 billion, representing a 3% year – on – year decline. Non – GAAP revenues decreased by 2% year – on – year, roughly in line with market forecasts.
When it comes to profitability, GAAP net profit soared to 7.4billion,aremarkable1622.8 billion, a 10% year – on – year decrease.
Business Segment Performance
The company’s business structure showed a clear divergence. The semiconductor business, known as QCT (Qualcomm CDMA Technologies), generated revenues of $9.1 billion.
Within the QCT segment, the mobile phone chip business faced challenges. Due to tight memory supply and weak industry shipments, it reported revenues of $6 billion, a 13% year – on – year decline.
In contrast, the automotive electronics business shone brightly. It achieved revenues of 1.33billion,asubstantial381.73 billion, up 9% year – on – year.
The combined revenues of the automotive and IoT businesses grew by 20% year – on – year, becoming the core pillars that cushion the impact of fluctuations in the mobile phone business and support the company’s stable performance. Additionally, the technology licensing business, QTL (Qualcomm Technology Licensing), generated revenues of $1.4 billion, maintaining a stable level of profitability.
CEO’s Outlook and Strategic Plans
Qualcomm’s CEO, Cristiano Amon, stated that the company had executed robustly in a complex memory environment, and its performance was in line with the guidance. He pointed out that the industry was undergoing profound changes, with intelligent agent AI reshaping the product roadmaps across all categories. The mobile phone market had reached a near – bottom level, and a gradual recovery was expected after the third quarter.
The company is set to make significant strides in the data center and physical AI sectors. It plans to deliver custom data center chips to leading cloud service providers in the second half of the year. More details about this strategic move will be disclosed at the investor day on June 24.
Financial Operations and Profitability
In terms of financial operations, Qualcomm completed stock buybacks worth 5.4billioninthefirsthalfofthe2026fiscalyear.Moreover,itannouncedanewstockrepurchaseauthorizationof20 billion, demonstrating its confidence in long – term value.
Furthermore, the company maintained a gross margin of 53.8% in this quarter, indicating that its overall profitability remained stable.
