QUALCOMM Incorporated Q3 FY2026 Earnings Results vs. Expectations

What the Street expects

QoQ and YoY are what the consensus implies against the prior quarter and the prior year.

Q3 FY2026 reported results

What to watch

1. Where revenue lands in $9.2–10.0B. The range is 8% wide, and every point in it is a decline against the $10.37 billion of a year earlier — 4% at the top, 11% at the bottom. Management's characterisation of where it landed matters as much as the number.
2. Handset revenue, and whether management repeats the bottom call. $6,024 million last quarter and $6,328 million a year ago. A print below $5.5 billion with the bottom call withdrawn is a different company from one that confirms it.
3. QCT EBT margin against 27%. It was 30% a year earlier. Margin, not revenue, is where memory-cost inflation shows up first.
4. The September-quarter guide, especially the non-GAAP EPS range. This is the first quarter of the claimed sequential recovery in Chinese handsets, so the guide either backs the April statement or quietly retires it.
5. Anything on the data-center engagement. In April the company said a leading hyperscaler custom-silicon engagement was on track for initial shipments later in the calendar year, and it held an Investor Day on June 24 to expand on growth initiatives.

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Estimate against reported

Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.

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