Qualcomm reports lower Q3 revenue and EPS, guides to $9.7B-$10.5B Q4 sales

Qualcomm reported third-quarter fiscal 2026 revenue of $9.947 billion for the period ended June 28, 2026, down 4% year over year, while GAAP diluted EPS fell 23% to $1.87 and non-GAAP EPS fell 20% to $2.21. QCT handset revenue declined 20% to $5.086 billion, partly offset by automotive revenue growth of 61% to $1.588 billion and IoT growth of 9% to $1.830 billion; Qualcomm returned $2.3 billion to stockholders through dividends and buybacks and completed its acquisition of Modular Inc. For the fourth quarter, Qualcomm guided to revenue of $9.7 billion-$10.5 billion and non-GAAP diluted EPS of $2.05-$2.25, citing higher semiconductor input costs and pricing actions.