QCOM

EX-99.1

2 qcom092726erex991.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Qualcomm Contact:

Brett Simpson

Senior Vice President, Investor Relations

Phone: 1-858-658-4813 | e-mail: ir@qualcomm.com

Qualcomm Announces Fourth Quarter and Fiscal 2026 Results

Fiscal 2026 GAAP Revenues: $43.1 billion

Fiscal 2026 GAAP EPS: $12.70, Non-GAAP EPS: $10.54

—Renewed Long-term QTL License Agreements with Apple, Huawei and Transsion—

—Announced Multi-Generational Product Collaboration with Amazon for AI Data Centers—

—Record QCT Automotive Revenues: Achieved First $2B Quarter, Growing 89% Year-Over-Year—

SAN DIEGO - November 4, 2026 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal fourth quarter and year ended September 27, 2026.

“We are pleased to deliver fourth quarter non-GAAP revenues at the high end of our guidance, along with 36% year-over-year growth in combined QCT Automotive and IoT revenues,” said Cristiano Amon, President and CEO of Qualcomm Incorporated. “Fiscal 2027 marks the start of our non-handset revenue inflection, including the ramp of our Data Center business. Non-handset revenues are projected to grow by more than 60% year-over-year, and we are reiterating our fiscal 2027 Data Center revenue target of $5B.”

Fourth Quarter Results1

GAAPNon-GAAP

(in millions, except per share data and percentages)Q4 Fiscal 2026Q4 Fiscal 2025ChangeQ4 Fiscal 2026Q4 Fiscal 2025Change

Revenues$10,322$11,270(8%)$10,442$11,270(7%)

Earnings before taxes (EBT)$1,173$2,971(61%)$2,666$3,792(30%)

Net income$1,251($3,117)+140%$2,332$3,257(28%)

Diluted earnings (loss) per share (EPS)$1.17($2.89)+140%$2.17$3.00(28%)

Fiscal 2026 Results1,2

GAAPNon-GAAP

(in millions, except per share data and percentages)Fiscal 2026Fiscal 2025ChangeFiscal 2026Fiscal 2025Change

Revenues$43,120$44,284(3%)$43,240$44,141(2%)

EBT $9,414$12,663(26%)$12,976$15,458(16%)

Net income$13,628$5,541+146%$11,311$13,298(15%)

EPS$12.70$5.01+153%$10.54$12.03(12%)

(1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.”

(2) Fiscal 2026 GAAP results included a $5.7 billion income tax benefit, or $5.32 per share, resulting from the release of a valuation allowance that was established in the fourth quarter of fiscal 2025.

Qualcomm Announces Fourth Quarter and Fiscal 2026 Results

Page 2 of 10

Segment Results

Fourth Quarter

QCTQTL

(in millions, except percentages)Q4 Fiscal 2026Q4 Fiscal 2025ChangeQ4 Fiscal 2026Q4 Fiscal 2025Change

Revenues$9,015$9,821(8%)$1,304$1,409(7%)

EBT$2,142$2,896(26%)$918$1,015(10%)

EBT as % of revenues24%29%-5 points70%72%-2 points

Fiscal 2026

QCTQTL

(in millions, except percentages)Fiscal 2026Fiscal 2025ChangeFiscal 2026Fiscal 2025Change

Revenues$37,208$38,367(3%)$5,556$5,582—

EBT$10,101$11,670(13%)$4,022$4,043(1%)

EBT as % of revenues27%30%-3 points72%72%—

QCT Revenue Streams1

Fourth QuarterFiscal

(in millions, except percentages)20262025Change20262025Change

Handsets $5,137$6,961(26%)$24,072$27,793(13%)

Automotive1,9901,053+89%6,0043,957+52%

IoT (internet of things) 1,8881,807+4%7,1326,617+8%

Total QCT revenues$9,015$9,821(8%)$37,208$38,367(3%)

(1) We disaggregate QCT revenues based on the industries and applications in which our products are sold.

Return of Capital to Stockholders

The following table summarizes our return of capital to stockholders, through stock repurchases and cash dividends, during the fourth quarter and fiscal 2026.

Stock RepurchasesDividend PaidTotal Amount

(in millions, except per share data) SharesAmountPer ShareAmount

Q4 Fiscal 20266$1,011$0.92$987$1,998

Fiscal 202648$7,817$3.62$3,854$11,671

Qualcomm Announces Fourth Quarter and Fiscal 2026 Results

Page 3 of 10

Business Outlook

The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent annual report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.

The semiconductor industry is experiencing a broad-based increase in input costs across wafer fabrication, assembly, test, advanced packaging, memory and other materials. As previously disclosed, we are taking actions to reflect the higher input costs in our product pricing. We anticipate the full benefit of these actions to be reflected in QCT gross margins in the second half of fiscal 2027.

The following table summarizes GAAP and Non-GAAP guidance based on the current outlook.

Current Guidance

Q1 FY27 Estimates1

Revenues$10.4B - $11.2B

Supplemental Revenue Information

QCT revenues2

$9.0B - $9.6B

QTL revenues$1.3B - $1.5B

GAAP diluted EPS$1.03 - $1.23

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EX-99.1

2 qcom032926erex991.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Qualcomm Contact:

Brett Simpson

Senior Vice President, Investor Relations

Phone: 1-858-658-4813 | e-mail: ir@qualcomm.com

Qualcomm Announces Second Quarter Fiscal 2026 Results

Revenues: $10.6 billion

GAAP EPS: $6.88, Non-GAAP EPS: $2.65

—Record Quarterly QCT Automotive Revenues—

—Diversification: Combined QCT Automotive and IoT Revenues Grew 20% Year-Over-Year—

—Completed $5.4B of Share Repurchases in First Half of Fiscal 2026 and Announced New $20B Authorization—

SAN DIEGO - April 29, 2026 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal second quarter ended March 29, 2026.

“We are pleased to deliver results in line with our guidance, reflecting solid execution as we navigate a challenging memory environment,” said Cristiano Amon, President and CEO of Qualcomm Incorporated. “We are in a period of profound industry transformation — the rise of AI agents is reshaping our roadmap across every platform we develop. We are equally excited by our entry into the data center, where a leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year. We look forward to providing an update on our growth initiatives, including opportunities in Data Center and Physical AI, at our Investor Day on June 24.”

Second Quarter Results1,2

GAAPNon-GAAP

(in millions, except per share data and percentages)Q2 Fiscal 2026Q2 Fiscal 2025ChangeQ2 Fiscal 2026Q2 Fiscal 2025Change

Revenues$10,599$10,979(3%)$10,599$10,836(2%)

Earnings before taxes (EBT)$2,232$3,105(28%)$3,246$3,694(12%)

Net income$7,370$2,812+162%$2,840$3,172(10%)

Diluted earnings per share (EPS)$6.88$2.52+173%$2.65$2.85(7%)

(1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.”

(2) Second quarter of fiscal 2026 GAAP results included a $5.7 billion income tax benefit, or $5.33 per share, resulting from the release of a valuation allowance that was established in the fourth quarter of fiscal 2025. Refer to the section labeled “Income Taxes” included within this news release for additional details.

Segment Results

QCTQTL

(in millions, except percentages)Q2 Fiscal 2026Q2 Fiscal 2025ChangeQ2 Fiscal 2026Q2 Fiscal 2025Change

Revenues$9,076$9,469(4%)$1,382$1,319+5%

EBT$2,465$2,857(14%)$994$929+7%

EBT as % of revenues27%30%-3 points72%70%+2 points

Qualcomm Announces Second Quarter Fiscal 2026 Results

Page 2 of 9

QCT Revenue Streams1

(in millions, except percentages)Q2 Fiscal 2026Q2 Fiscal 2025Change

Handsets$6,024$6,929(13%)

Automotive1,326959+38%

IoT (internet of things) 1,7261,581+9%

Total QCT revenues$9,076$9,469(4%)

(1) We disaggregate QCT revenues based on the industries and applications in which our products are sold.

Return of Capital to Stockholders

During the second quarter of fiscal 2026, we returned $3.7 billion to stockholders, including $945 million, or $0.89 per share, of cash dividends paid and $2.8 billion through repurchases of 19 million shares of common stock.

Income Taxes

In the second quarter of fiscal 2026, we recorded a $5.7 billion income tax benefit, or $5.33 per share, from the release of a valuation allowance that was established in the fourth quarter of fiscal 2025, as we now expect to realize our existing federal deferred tax assets as a result of additional guidance issued on corporate alternative minimum tax by the U.S. Department of Treasury and the Internal Revenue Service. This benefit was excluded from our Non-GAAP metrics but was reflected in our GAAP results.

Qualcomm Announces Second Quarter Fiscal 2026 Results

Page 3 of 9

Business Outlook

The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent quarterly report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.

Our guidance for the third quarter of fiscal 2026 includes the estimated impact of memory supply constraints and related pricing on demand from several handset OEMs. We now estimate that QCT handset revenues from Chinese customers will reach a bottom in the third quarter and return to sequential growth in the following quarter.

The following table summarizes GAAP and Non-GAAP guidance based on the current outlook.

Current Guidance

Q3 FY26 Estimates1

Revenues$9.2B - $10.0B

Supplemental Revenue Information

QCT revenues$7.9B - $8.5B

QTL revenues$1.15B - $1.35B

GAAP diluted EPS$1.26 - $1.46

Less diluted EPS attributable to QSI$—

Less diluted EPS attributable to share-based compensation($0.68)

Less diluted EPS attr