QUALCOMM INC/DE files 8-K: results of operations
Item 2.02. Results of Operations and Financial Condition.
On November 4, 2026, QUALCOMM Incorporated (the Company) issued a press release regarding the Company’s financial results for its fourth quarter and fiscal year ended September 27, 2026. A copy of that press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The press release includes Non-GAAP financial measures as defined in Regulation G. The press release also includes the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP), information reconciling the Non-GAAP financial measures to the GAAP financial measures and a discussion of the reasons why the Company’s management believes that presentation of the Non-GAAP financial measures provides useful information to investors regarding the Company’s financial condition and results of operations. The Non-GAAP financial measures presented therein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP.
—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 Results 1
(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
QCT Revenue Streams 1
(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.
Qualcomm Announces Fourth Quarter and Fiscal 2026 Results Page 3 of 10
Business Outlook
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 Estimates 1
Revenues $10.4B - $11.2B Supplemental Revenue Information
Less diluted EPS attributable to QSI $—
Less diluted EPS attributable to share-based compensation ($0.99)
Less diluted EPS attributable to other items 3 ($0.13)
(1) Our outlook does not include provisions for proposed tax law changes, future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our financial outlook to the extent they are reasonably certain. Our outlook includes the impact of any pending business combinations to the extent they are expected to close in the upcoming quarter. Actual results may differ materially from the outlook.
(2) Guidance as of the first quarter of fiscal 2027 is inclusive of Data Center.
(3) Our guidance for diluted EPS attributable to other items for the first quarter of fiscal 2027 is primarily related to acquisition-related items.
Qualcomm Announces Fourth Quarter and Fiscal 2026 Results Page 4 of 10
Conference Call and Available Information
Qualcomm’s fourth quarter and fiscal 2026 earnings conference call will be broadcast live on November 4, 2026, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events . This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and information reconciling these Non-GAAP financial measures to our financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed on the conference call, will be posted to our Investor Relations website at https://investor.qualcomm.com immediately prior to the commencement of the call. An audio replay will be available on our website and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13762625.
Our Investor Relations website at https://investor.qualcomm.com contains a significant amount of information about us, including financial and other information for investors, and it is possible that this information could be deemed to be material information. Accordingly, investors and others interested in Qualcomm should review the information posted on our website in addition to following our press releases, SEC filings and public conference calls and webcasts.