Slide 1: Third Quarter Fiscal 2026 Earnings
Third Quarter Fiscal 2026 Earnings July 29, 2026 In this presentation we use “Qualcomm” for ease of reference, but note that all of our product businesses are operated by Qualcomm Technologies, Inc. (a subsidiary of Qualcomm Incorporated) and/or its subsidiaries. Accordingly, references to “Qualcomm
Slide 2: Note Regarding Forward-Looking Statements
Note Regarding Forward-Looking Statements In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our growth and dive
Slide 3: Q3FY26 Highlights
Q3FY26 Highlights
Slide 4: Third Quarter Fiscal 2026 Results
Third Quarter Fiscal 2026 Results Revenues GAAP EPS Non-GAAP EPS $9.9B $1.87 $2.21 QCT QTL OTHER Revenues of EBT(2) of Revenues of Returned Completed acquisition of $8.5B $2.2B $1.3B $2.3B Modular Inc at high end of guidance with EBT above midpoint of to stockholders range(1) margin of guidance rang
Slide 5: Q3FY26 Financial Summary
Q3FY26 Financial Summary (in millions, except per share data and percentages) Q3FY26 Q3FY25 YoY ∆ Non-GAAP Revenues $9,947 $10,365 -4% EBT $2,693 $3,544 -24% EPS $2.21 $2.77 -20% QCT Revenues $8,504 $8,993 -5% Handsets $5,086 $6,328 -20% Automotive $1,588 $984 +61% IoT $1,830 $1,681 +9% EBT $2,192 $
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of July 29, 2026 The semiconductor industry is experiencing a broad-based increase in input costs, across wafer fabrication, assembly, test, advanced packaging, memory and other materials. We are taking concrete actions to reflect the higher input costs in our produ
Slide 7: Factors Impacting Third Quarter Results and Fourth Quarter Guidance
Factors Impacting Third Quarter Results and Fourth Quarter Guidance SUMMARY 1. Consistent with our expectations, we estimate that QCT handset revenues from China OEMs reached a bottom in the third fiscal quarter and will return to double-digit sequential growth in the fourth quarter. 2. The semicond
Slide 8: QCT Android Handset Revenues
QCT Android Handset Revenues Historical Trend FY26 Memory Industry Impact Relative to FY25 baseline $25B $20B ~20% revenue decline in FY26 equals $1.50+ EPS impact $15B $10B $5B - FY20 FY25 FY25 FY26e Unprecedented increases in memory pricing and supply constraints have created significant cyclical
Slide 9: Non-Handset Revenue Growth into FY27
Non-Handset Revenue Growth into FY27 A significant inflection point in the execution of our growth strategy $25B $20B YoY growth in non-handset revenues to accelerate from 24% in FY26 to 60%+ in FY27 $15B YoY growth in non-handset $10B revenue in FY27 to replace total Apple product revenues in FY26
Slide 10: Investor Day Recap
Investor Day Recap
Slide 11: Updated FY29 revenue targets
Updated FY29 revenue targets 2024 INVESTOR DAY TARGETS1 2026 INVESTOR DAY UPDATE Automotive $8B Automotive $10B ~ 2x increase vs. prior FY29 target IoT $14B IoT $14B+ ~ 40% Data Center - Data Center $15B+ 4-year CAGR FY25-FY29 Total non-handsets $22B Total non-handsets $40B 1. As of November 19, 202
Slide 12: Fiscal 2029 financial model
Fiscal 2029 financial model REVENUE TARGETS Non-handsets $40B Automotive $10B IoT $14B+ Data Center $15B+ Android handsets ~5% (FY26–29 CAGR) Licensing Scales with 4G / 5G units Sums may not equal totals due to rounding. 12
Slide 13: Accelerating semiconductor diversification
Accelerating semiconductor diversification Non-handsets will represent approximately two-thirds of QCT revenue1 in FY29 FY25 FY27 FY29 target target 1. QCT revenue inclusive of Data Center revenue. 13
Slide 14: Data Center: Our largest growth opportunity
Data Center: Our largest growth opportunity Creating a comprehensive roadmap to address expanding TAM Connectivity Custom silicon AI accelerator CPU FY26 Q1 FY27 2H FY27 2H FY28 START OF REVENUE $1T+ RAMP 2 0 2 9 T AM $65B $115B $680B $200B 2029 TAM 2029 TAM 2029 TAM 2029 TAM 14
Slide 15: Data Center financial framework
Data Center financial framework $15B+ FY27 METRICS OPPORTUNITY OF > 5% CUSTOM S I L I CON Two hyperscaler customers of >$1B revenue each 1 share of $1T+ TAM $5B in 5–7 years Accretive to QCT operating margin A I ACCE L E RATOR A N D CP U Investment ahead of revenue ramp $0.3B FY26e FY27 FY29 REVENUE
Slide 16: Qualcomm investment case
Qualcomm investment case Diversified revenue base across Handsets, Data Center, Automotive and IoT Increasing FY29 non-handset revenue target from $22B to $40B Confidence in scaling non-GAAP EPS to >$18 in FY29 $100B+ annual revenue opportunity in 5–7 years 16
Slide 17: Key Announcements
Key Announcements
Slide 18: Four product lines One rack-scale agentic platform
A I D ATA C E N T E R S A N D H Y B R ID A I Key Announcements Qualcomm Unveils Comprehensive Data Center Roadmap for the Agentic AI Era with New Qualcomm Dragonfly Portfolio – link HIGHLIGHTS QUALCOMM DRAGONFLY Qualcomm Technologies introduced new data center solutions, including the Qualcomm Dra
Slide 19: Qualcomm and Meta Announce Strategic Multi-Generation Agreement on Data Center CPUs
A I D ATA C E N T E R S A N D H Y B R ID A I Key Announcements Qualcomm and Meta Announce Strategic Multi-Generation Agreement on Data Center CPUs – link HIGHLIGHTS Qualcomm and Meta have announced a collaboration on a multi-generation roadmap for CPU products supporting Meta’s growing compute foo
Slide 20: Qualcomm Completes Acquisition of Modular
Q UALCOMM TECHNOLOGY LE ADERSHIP MO MENTUM Key Announcements Qualcomm Completes Acquisition of Modular – link HIGHLIGHTS Qualcomm announced that it has completed its acquisition of Modular Inc. Modular’s AI-native software platform complements Qualcomm Technologies’ solutions to accelerate gener
Slide 21: Qualcomm and Hugging Face Expand Relationship
Mobile Key Announcements A I D ATA C E N T E R S A N D H Y B R ID A I Qualcomm and Hugging Face Expand Relationship to Advance Open, Developer-Driven AI from Device to Cloud – link HIGHLIGHTS Qualcomm Technologies announced the expansion of its strategic relationship with Hugging Face to advance o
Slide 22: Qualcomm and Samsung Expand Collaboration with Snapdragon
PERSONAL AI Key Announcements Qualcomm and Samsung Expand Collaboration with Snapdragon Powering the New Galaxy Lineup Across Smartphones, Watches, and Intelligent Eyewear – link HIGHLIGHTS Qualcomm Technologies and Samsung strengthen their long- Powered by standing collaboration with Snapdragon e
Slide 23: Qualcomm Launches Snapdragon START
WEARABLE AI Key Announcements Qualcomm Launches Snapdragon START to Enable the Next Phase of Personal AI Devices – link HIGHLIGHTS Snapdragon START Snapdragon® Scalable Turnkey-AI Ready Toolkit (START) hardware modules are ready-made solutions powered by Snapdragon® platforms, combining advanced c
Slide 24: Stellantis and Qualcomm Expand Collaboration
Q CT AU TO MOT IV E Key Announcements Stellantis and Qualcomm Expand Collaboration to Adopt Snapdragon Digital Chassis Driver Assistance, Cockpit and Connectivity Platforms Across Next-Generation Vehicle Architectures – link HIGHLIGHTS Qualcomm Technologies and Stellantis announced a collaboration
Slide 25: Qualcomm Named BMW Group's Lead Compute Silicon Provider
Q CT AU TO MOT IV E Key Announcements Qualcomm Named BMW Group’s Lead Compute Silicon Provider for Digital Cockpit and Automated Driving Through the Next Decade – link HIGHLIGHTS BMW Group selects Qualcomm Technologies as its leading compute silicon provider for the digital cockpit and next- gener
Slide 26: Key Announcements
• Qualcomm becomes Official Circuit Partner of NASCAR San Diego Weekend presented by Anduril – Link • Qualcomm Unveils Two New Snapdragon Mobile Platforms, Delivering Faster, Smoother Mobile Experiences to More Users Globally – Link • Stellantis and Qualcomm Expand Collaboration to Adopt Snapdragon
Slide 27: Reconciliations
Reconciliations
Slide 28: Note Regarding Use of Non-GAAP Financial Measures
Note Regarding Use of Non-GAAP Financial Measures The Non-GAAP financial measures presented herein should be considered in addition to, not as a substitute for or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not a term defined by GAAP, and as a resul
Slide 29: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Third Quarter Fiscal 2026 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Revenues $9,947 $— $— $— $9,947 EBT $2,462 $768 ($827) ($172) $2,693 Net income (los
Slide 30: Business Outlook
Business Outlook Q3FY26 Q4FY26 Guidance(1) Guidance(2) Revenues $9.2B - $10.0B $9.7B - $10.5B GAAP diluted EPS $1.26 - $1.46 $1.22 - $1.42 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.68) ($0.72) Less diluted EPS attributable to other items
Slide 31: Operating Expenses and Effective Tax Rates
Operating Expenses Q3FY26 Q3FY26 Q4FY26 (in millions) Guidance(1) Results Guidance(2) GAAP combined R&D and SG&A expenses ~$3,450 $3,583 ~$3,600 Less QSI N/P $3 N/P Less share-based compensation N/P $801 N/P Less other items(3) N/P $186 N/P Non-GAAP operating expenses (Non-GAAP combined R&D and SG&A
Slide 32: FY29 EPS Target
FY29 EPS Target FY29 EPS (1) GAAP >$14.50 Less QSI N/P Less share-based compensation N/P Less other items N/P Non-GAAP >$18.00 1. Guidance as of July 29, 2026. Substantially all of the amounts excluded from our estimated FY29 Non-GAAP EPS target relate to share-based compensation. 32