Qualcomm — 2026Q3 earnings

“Despite a challenging memory and supply environment, our third quarter results reflect solid execution of our growth strategy, with quarterly revenues at the high end of guidance”

“We are well positioned to execute on the vision we outlined at our recent Investor Day, with total non-handset revenues growing to $40 billion by fiscal 2029”

“In the near term, we expect year-over-year growth in non-handset revenues, including Data Center, to accelerate from 24% in fiscal 2026 to greater than 60% in fiscal 2027”

“Combined QCT Automotive and IoT Revenues Grew 28% Year-Over-Year”

“The semiconductor industry is experiencing a broad-based increase in input costs, across wafer fabrication, assembly, test, advanced packaging, memory and other materials. We are taking concrete actions to reflect the higher input costs in our product pricing and expect these actions to benefit our gross margins over time as the pricing changes gradually come into effect.”

“During the third quarter of fiscal 2026, we returned $2.3 billion to stockholders, including $973 million, or $0.92 per share, of cash dividends paid and $1.4 billion through repurchases of 8 million shares of common stock.”

“Completed Acquisition of Modular Inc Creating an Open Software Foundation for Generative and Agentic AI”

“In fiscal Q3, we delivered revenues of $9.9 billion, coming in at the high end of our guidance and non-GAAP earnings per share of $2.21.”

“In the short term, the entire industry continues to be impacted by unprecedented memory prices, higher manufacturing and input costs as well as supply chain shortages driven by overall data center demand.”

“In addition to the resulting revenue decline in mobile and consumer electronics, this is creating short-term pressure on QCT gross margins which will be slightly below our historical range.”

“the scale of the increase that we're looking at is double digit and consistent with some of the actions from other players”

“Our 2 near-term custom silicon wins will be revenue generating in the December quarter, and we have begun wafer production.”

“we have completed the tape-out of HBC Gen 1, an engineering milestone that moves us into the next phase of customer engagements. We expect to demonstrate HBC performance on silicon in the coming quarters ahead of the launch of our first HBC solution in mid-2027.”

“This quarter, we signed a landmark expanded agreement with BMW, winning a highly competitive selection process to become the lead compute silicon provider for their next-generation ADAS as well as digital cockpit.”