QUALCOMM Incorporated · NASDAQ:QCOM
QUALCOMM — Q4 FY2026 Earnings Presentation
27 slides from QUALCOMM's earnings presentation, Nov 4, 2026
Slide 1: Fourth Quarter and Fiscal 2026 Earnings
Fourth Quarter and Fiscal 2026 Earnings November 4, 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 “
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: Q4 and FY26 Highlights
Q4 and FY26 Highlights
Slide 4: Fourth Quarter Fiscal 2026 Results
Fourth Quarter Fiscal 2026 Results Non-GAAP Revenues GAAP EPS Non-GAAP EPS $10.4B $1.17 $2.17 QCT QTL OTHER Revenues of EBT(2) of Revenues of Returned $9.0B $2.1B $1.3B $2.0B at high end of guidance with EBT at midpoint of guidance to stockholders including range(1) margin of range 24% $1.0B $3.9B ↑
Slide 5: Q4FY26 Financial Summary
Q4FY26 Financial Summary (in millions, except per share data and percentages) Q4FY26 Q4FY25 YoY ∆ Non-GAAP Revenues $10,442 $11,270 -7% EBT $2,666 $3,792 -30% EPS $2.17 $3.00 -28% QCT Revenues $9,015 $9,821 -8% Handsets $5,137 $6,961 -26% Automotive $1,990 $1,053 +89% IoT $1,888 $1,807 +4% EBT $2,14
Slide 6: FY26 Financial Summary
FY26 Financial Summary (in millions, except per share data and percentages) FY26 FY25 YoY ∆ Non-GAAP Revenues $43,240 $44,141 -2% EBT $12,976 $15,458 -16% EPS $10.54 $12.03 -12% QCT Revenues $37,208 $38,367 -3% Handsets $24,072 $27,793 -13% Automotive $6,004 $3,957 +52% IoT $7,132 $6,617 +8% EBT $10
Slide 7: Financial Results and Guidance
Financial Results and Guidance As of November 4, 2026 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
Slide 8: Qualcomm Renews Long-Term Licensing Agreements
Qualcomm Renews Long-Term Licensing Agreements SUMMARY • Qualcomm announced the renewal of long-term licensing agreements with Apple, Huawei and Transsion. • Following these agreements, QTL’s revenue run rate remains unchanged, and our licensing business has a strong foundation into the 6G era, cont
Slide 9: Data Center Update
Data Center Update Multi-generation design wins to date • Connectivity: 2 customers (including Amazon) $15B+ • Custom Silicon/AI Accelerator: 3 customers (including Amazon) • CPU: Meta We remain on track to deliver on our FY29 Investor Day targets • Recently announced Amazon multi-generation product
Slide 10: Segmentation and Revenue Stream Update
Segmentation and Revenue Stream Update Reporting change • At our June 2026 Investor Day, we outlined a path to grow non-handset revenue, including Data Center, to two-thirds of QCT revenue by FY29. • Starting in FY27, consistent with that target, we will report Data Center as a new revenue stream wi
Slide 11: Pricing Actions and Gross Margin Impact
Pricing Actions and Gross Margin Impact Pricing Actions • 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 implementing price increases across our products to reflect h
Slide 12: Key Announcements
Key Announcements
Slide 13: Key Announcements: Amazon Multi-Generational Collaboration
A I DATA C E N T E RS Key Announcements Qualcomm Announces Multi-Generational Product Collaboration with Amazon to Build Next-Generation AI Data Center Infrastructure – link HIGHLIGHTS Qualcomm announced a multi-generation product collaboration Amazon with Amazon to enable customized silicon at sc
Slide 14: SpaceX Selects Qualcomm for Starlink Mobile 5G Network
C E L LU L AR I N F RAST RU CT U R E Key Announcements SpaceX Selects Qualcomm to Accelerate Starlink Mobile’s Nationwide 5G Network – link HIGHLIGHTS Qualcomm Technologies is supplying its Qualcomm Dragonwing Cellular Infrastructure solutions to support Starlink Mobile’s terrestrial base stations
Slide 15: Snapdragon X Series Powers Googlebook
QCT AI PC Key Announcements Snapdragon X Series Powers Googlebook: the First Laptops Designed for Gemini Intelligence – link HIGHLIGHTS Snapdragon® X Elite now powers Googlebook, a new category of laptop designed for Gemini Intelligence. Googlebook devices, powered by Snapdragon X Elite, deliver
Slide 16: Qualcomm Japan Robotics Center Investment Initiative
QCT ROBOTICS Key Announcements Qualcomm Launches Comprehensive Robotics Investment Initiative in Japan, Anchored by New Qualcomm Japan Robotics Center – link HIGHLIGHTS Qualcomm joins forces with Japan's leading robotics, industrial automation, research, and technology organizations to build an Bu
Slide 17: Snapdragon 8 Elite Gen 6 Mobile Platforms
QCT HANDSETS Key Announcements Snapdragon Leads the Agentic AI Age with Two of the World’s Fastest Mobile SoCs Powering the Next Generation of Smartphones – link HIGHLIGHTS Two of the world’s Qualcomm introduced Snapdragon 8 Elite Extreme Gen 6 and fastest mobile SoCs Snapdragon 8 Elite Gen 6, ext
Slide 18: AI-Native Broadband Innovations at Network X 2026
QCT INDUSTRIAL IOT Key Announcements Qualcomm Unveils AI-Native Broadband Innovations Across Fiber, Wi-Fi 8, Fixed Wireless, and Network Infrastructure and Security at Network X 2026 – link HIGHLIGHTS Powered by At Network X 2026, Qualcomm showcased an AI-native broadband platform with gFiber buil
Slide 19: Key Announcements
• Qualcomm Appoints Sergio Buniac as Executive Vice President and Group General Manager, Mobile, Compute, and Personal AI – Link • Arduino VENTUNO Q is Here: Bringing Agentic AI to the Physical World with Qualcomm Dragonwing IQ8 Series – Link • Qualcomm Launches Comprehensive Robotics Investment Ini
Slide 20: Reconciliations
Reconciliations
Slide 21: 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 22: Reconciliations of GAAP to Non-GAAP: Fourth Quarter
Reconciliations of GAAP to Non-GAAP Financial Measures Fourth 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 $10,322 $— $— ($120) $10,442 EBT $1,173 ($123) ($873) ($497) $2,666 Net in
Slide 23: Fiscal 2026 and Fiscal 2025 Results Reconciliation
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 $43,120 $— $— ($120) $43,240 EBT $9,414 $794 ($3,452) ($904) $12,976 Net income (loss) $13,628 $638 ($3,011) $4,690 $11,311 Diluted EPS $12.70 $
Slide 24: Business Outlook
Business Outlook Q4FY26 Q1FY27 Guidance(1) Guidance(2) Revenues(3) $9.7B - $10.5B $10.4B - $11.2B GAAP diluted EPS $1.22 - $1.42 $1.03 - $1.23 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.72) ($0.99) Less diluted EPS attributable to other i
Slide 25: Operating Expenses and Effective Tax Rates
Operating Expenses Q4FY26 Q4FY26 Q1FY27 (in millions) Guidance(1) Results Guidance(2) GAAP combined R&D and SG&A expenses ~$3,600 $3,647 ~$3,850 Less QSI N/P $3 N/P Less share-based compensation N/P $847 N/P Less other items(3) N/P $92 N/P Non-GAAP operating expenses (Non-GAAP combined R&D and SG&A
Slide 26: Free Cash Flow and Return of Our Free Cash Flow to Stockholders
Free Cash Flow and Return of Our Free Cash Flow to Stockholders (in millions) FY26 Operating cash flow (GAAP net cash provided by operating activities) $11,145 Less capital expenditures 2,494 Free cash flow (Non-GAAP) $8,651 Cash paid to repurchase shares of our common stock $7,817 Cash dividends pa
Slide 27: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA (in millions) FY26 Net income $13,628 Less income tax benefit 4,214 Plus depreciation and amortization 1,630 Plus interest expense 689 Less investment and other income, net 1,445 EBITDA $10,288 Adjustments Less QSI operating loss(1) ($11) Less share-based compensation oper