Qualcomm delivered record revenues in Q1 FY2026, driven by strong performance in its QCT segment, particularly in automotive and IoT, and the strategic acquisition of Alphawave Semi. While handset revenues saw modest growth, the company faces near-term headwinds from industry-wide memory supply constraints, impacting its outlook.
Record total company revenues of $12.3 billion, a 5% increase year-over-year.
positiveRecord QCT revenues of $10.6 billion, up 5% year-over-year.
positiveQCT Automotive revenues reached $1.1 billion, marking the second consecutive quarter exceeding $1 billion and showing 15% year-over-year growth.
positiveQTL revenues increased 4% year-over-year to $1.6 billion.
positiveReturned $3.6 billion to stockholders, including $2.6 billion in share repurchases and $949 million in cash dividends.
positiveNear-term handset outlook is impacted by industry-wide memory supply constraints.
attentionGAAP Net income decreased 6% year-over-year to $3.0 billion, while GAAP diluted EPS decreased 2% to $2.78.
negativeGAAP EBT decreased 2% year-over-year to $3.5 billion.
negativeQCT operating margin compressed by 1 percentage point year-over-year, from 32% to 31%.
attentionGuidance for Q2 FY2026 revenues is between $10.2 billion and $11.0 billion, representing a potential sequential decline from Q1 FY2026 revenues of $12.3 billion.
attentionGuidance for Q2 FY2026 GAAP diluted EPS is between $1.69 and $1.89, a significant decrease from Q1 FY2026 GAAP diluted EPS of $2.78.
negativeMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
QCT | N/A | — | — | — |
QTL | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Delivered strong quarterly results with record total company revenues.
Momentum across personal, industrial and physical AI is growing, evidenced by product announcements and customer traction.
Near-term handsets outlook is impacted by industry-wide memory supply constraints.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.