QCOM
QUALCOMM Incorporated
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for QUALCOMM Incorporated.
QUALCOMM Incorporated develops and commercializes foundational technologies for the wireless industry. QCT designs Snapdragon processors and modems for smartphones, automotive, compute, and IoT. QTL licenses a portfolio of cellular standard-essential and other patents to device makers.
Coverage
Amazon Pays $4.03 Billion to Exercise. Our Model Sits 25% Under Qualcomm's $5 Billion Target.
Qualcomm gave Amazon 25m warrant shares at $161.26. The $4.03B is what Amazon pays in; 85% is unvested; our base case sits $1.2B under the $5B target.
Qualcomm Beat Its GAAP EPS Ceiling by $0.41. Investments Contributed $0.57.
Qualcomm beat its GAAP ceiling by $0.41 — $0.57 of it from the investment segment. Handsets fell $1.24B and operating income fell 41% on a 4% revenue decline.
Qualcomm Guided Two Earnings Numbers for the Same Quarter, 84 Cents Apart. The Consensus Is on Neither.
Qualcomm guided GAAP and non-GAAP EPS 84 cents apart for one quarter, and the $1.54 consensus sits between them on a third basis. China bottoms now, said April.
Where the revenue goes next
Latest: $9.95B (Q3 FY2026)
| Period | Value |
|---|---|
| Q1 FY2024 | $9.94B |
| Q2 FY2024 | $9.39B |
| Q3 FY2024 | $9.39B |
| Q4 FY2024 | $10.24B |
| Q1 FY2025 | $11.67B |
| Q2 FY2025 | $10.98B |
| Q3 FY2025 | $10.37B |
| Q4 FY2025 | $11.27B |
| Q1 FY2026 | $12.25B |
| Q2 FY2026 | $10.60B |
| Q3 FY2026 | $9.95B |
Latest: $1.87 (Q3 FY2026)
| Period | Value |
|---|---|
| Q1 FY2024 | $2.46 |
| Q2 FY2024 | $2.07 |
| Q3 FY2024 | $1.88 |
| Q4 FY2024 | $2.58 |
| Q1 FY2025 | $2.83 |
| Q2 FY2025 | $2.52 |
| Q3 FY2025 | $2.43 |
| Q4 FY2025 | −$2.90 |
| Q1 FY2026 | $2.78 |
| Q2 FY2026 | $6.88 |
| Q3 FY2026 | $1.87 |
Latest: 21.4 (Q3 FY2026)
| Period | Value |
|---|---|
| Q1 FY2024 | 20.6 |
| Q2 FY2024 | 22.7 |
| Q3 FY2024 | 27.2 |
| Q4 FY2024 | 18.7 |
| Q1 FY2025 | 16.6 |
| Q2 FY2025 | 15.3 |
| Q3 FY2025 | 14.9 |
| Q4 FY2025 | 34.6 |
| Q1 FY2026 | 28.0 |
| Q2 FY2026 | 14.0 |
| Q3 FY2026 | 21.4 |
Latest: $495M (Q3 FY2026)
| Period | Value |
|---|---|
| Q1 FY2024 | $2.73B |
| Q2 FY2024 | $3.37B |
| Q3 FY2024 | $2.67B |
| Q4 FY2024 | $2.39B |
| Q1 FY2025 | $4.31B |
| Q2 FY2025 | $2.34B |
| Q3 FY2025 | $2.58B |
| Q4 FY2025 | $3.59B |
| Q1 FY2026 | $4.42B |
| Q2 FY2026 | $1.92B |
| Q3 FY2026 | $495M |
Latest: 1.05B (Q3 FY2026)
| Period | Value |
|---|---|
| Q4 FY2020 | 1.13B |
| Q1 FY2021 | 1.16B |
| Q2 FY2021 | 1.15B |
| Q3 FY2021 | 1.15B |
| Q4 FY2021 | 1.13B |
| Q1 FY2022 | 1.14B |
| Q2 FY2022 | 1.14B |
| Q3 FY2022 | 1.13B |
| Q4 FY2022 | 1.12B |
| Q1 FY2023 | 1.13B |
| Q2 FY2023 | 1.12B |
| Q3 FY2023 | 1.12B |
| Q4 FY2023 | 1.12B |
| Q1 FY2024 | 1.13B |
| Q2 FY2024 | 1.13B |
| Q3 FY2024 | 1.13B |
| Q4 FY2024 | 1.11B |
| Q1 FY2025 | 1.12B |
| Q2 FY2025 | 1.11B |
| Q3 FY2025 | 1.10B |
| Q4 FY2025 | 1.10B |
| Q1 FY2026 | 1.08B |
| Q2 FY2026 | 1.07B |
| Q3 FY2026 | 1.05B |
Latest: $30.81B (Q3 FY2026)
| Period | Value |
|---|---|
| Q1 FY2024 | $2.73B |
| Q2 FY2024 | $6.11B |
| Q3 FY2024 | $8.77B |
| Q4 FY2024 | $11.16B |
| Q1 FY2025 | $15.47B |
| Q2 FY2025 | $17.81B |
| Q3 FY2025 | $20.39B |
| Q4 FY2025 | $23.98B |
| Q1 FY2026 | $28.40B |
| Q2 FY2026 | $30.31B |
| Q3 FY2026 | $30.81B |
Latest earnings
Company History
Irwin Jacobs and team establish company focused on wireless communications; pioneers CDMA technology.
CDMA becomes global 3G standard; Qualcomm builds massive patent portfolio and licensing (QTL) revenue stream.
Introduces Snapdragon processors; shifts from pure IP/licensing to fabless semiconductor design, capturing handset market.
FTC/Apple antitrust battles over licensing practices; $4.5B-$4.7B settlements; reinforces patent strength.
Acquires Nuvia for custom CPU tech; strengthens Arm-based designs for PCs and beyond.
Enters Arm-based Windows PCs with high-performance, efficient chips; challenges Intel/AMD in laptops.
Automotive revenues surpass $1B quarterly; strong IoT growth; narrative evolves to 'beyond mobile'.
Q1 FY2026 record revenues; Alphawave acquisition accelerates data center entry; short-term memory shortage headwinds but confident in $22B non-handset target by 2029.
Key Players
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Funds we follow holding QCOM
By latest reported 13F position value. Market value at quarter-end, not cost basis.
