Qualcomm — 2026Q3 財報

“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”

The CEO framed the quarter as solid execution despite a challenging memory and supply environment, with revenue 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”

Management restated a target of $40 billion of total non-handset revenue 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”

Non-handset revenue growth, including data centre, is expected to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027.

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

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.”

The release attributed margin pressure to a broad-based increase in input costs and said price increases are being taken to reflect them.

“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.”

Qualcomm returned $2.3 billion to stockholders in the quarter, including $973 million of dividends and $1.4 billion of buybacks.

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

The company closed its acquisition of Modular Inc, positioned as 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.”

Revenue of $9.9 billion came in at the high end of guidance with non-GAAP EPS 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.”

The CEO attributed industry-wide pressure to unprecedented memory prices and supply shortages driven by data-centre 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.”

Management said QCT gross margins will be slightly below their historical range in the near term.

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

The CFO characterised the pricing action as double-digit in scale and consistent with peers.

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

Two near-term custom data-centre silicon wins become revenue generating in the December quarter, with wafer production already started.

“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.”

Qualcomm completed the tape-out of its first high-bandwidth compute part, ahead of a first solution launch 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.”

An expanded BMW agreement made Qualcomm the lead compute silicon provider for that carmaker's next-generation ADAS and digital cockpit.