Qualcomm Q3 Revenue Dips 4% to $9.95 Billion

Qualcomm reports $9.947 billion in Q3 fiscal 2026 revenue, a 4% year-over-year decline as mobile sales offset automotive and IoT growth.

Qualcomm reported $9.947 billion in revenue for its third fiscal quarter ended June 28, 2026, a 4% year-over-year decrease. Net profit fell 23% to $2.356 billion, while adjusted earnings per share dropped 20% to $2.21. The QCT semiconductor segment generated $8.504 billion, down 5%, with mobile phone revenue falling 20% to $5.086 billion. Conversely, automotive revenue surged 61% to $1.588 billion and IoT grew 9% to $1.830 billion. QTL licensing revenue dipped 3% to $1.278 billion. Qualcomm expects a 20% full-year decline in Android handset revenue and a lower modem share in the next iPhone as Apple develops its own chips. Future growth targets include over $15 billion in datacenter revenue by 2029, supported by a Meta server CPU agreement and the acquisition of Modular. Q4 revenue is forecasted between $9.7 and $10.5 billion.