Qualcomm Shares Up 8.7% Since Q3 Earnings Miss

Earnings
โดย Zacks Investment Research·US·Read original
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Qualcomm shares have risen 8.7% since its last earnings report, outperforming the S&P 500, but the company missed third-quarter fiscal 2026 earnings estimates while beating on revenue. Non-GAAP earnings were $2.21 per share, down 20% year over year and slightly below the consensus of $2.22, while revenues of $9.95 billion fell 4% but topped expectations by 2.4%. Handset weakness pressured results, with QCT handset revenues plunging 20% to $5.09 billion, but automotive revenues surged 61% to $1.59 billion, marking the 23rd straight quarter of double-digit growth, and IoT revenues rose 9% to $1.83 billion. Qualcomm raised its fiscal 2026 exit-rate outlook for annualized automotive sales to approximately $7 billion from $6 billion, and completed the $3.1 billion Modular acquisition. For the fourth quarter, the company forecasts revenues of $9.7-$10.5 billion and non-GAAP earnings of $2.05-$2.25 per share, with handset revenues expected around $5.2 billion and automotive revenues projected to rise about 60% year over year. Since the report, the consensus estimate has shifted down 12.97%, and Qualcomm holds a Zacks Rank #3 (Hold).

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Qualcomm Incorporated
QCOM
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Shares up 8.7% since earnings beat on revenue and raised automotive outlook despite EPS miss

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