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Qualcomm Misses Q3 Earnings Estimates, Revenues Beat on Auto Growth
ZACKS· 2026-07-30 23:26
Key Takeaways QCOM's Q3 earnings fell 20% and missed estimates, while revenues beat forecasts despite a 4% decline.QCT automotive revenues surged 61% to $1.59 billion, marking a 23rd straight quarter of double-digit growth.Handset revenues fell 20%, but Qualcomm expects double-digit sequential growth as inventory drawdowns ease.Qualcomm Incorporated (QCOM) reported third-quarter fiscal 2026 non-GAAP earnings of $2.21 per share, down 20% year over year and missing the Zacks Consensus Estimate of $2.22 by 0.5 ...