Qualcomm reported revenue of $9.95 billion and non-GAAP EPS of $2.21, missing estimates by six cents amid handset weakness and memory cost pressures. The automotive segment reached a record $1.6 billion, up 61 percent year over year, prompting management to raise its fiscal 2026 annualized exit run rate to $7 billion following the BMW ADAS and digital cockpit win. Despite gross margin compression from wafer and packaging inflation, the company reaffirmed its $40 billion non-handset revenue target for fiscal 2029, supported by data center product ramps and over $7 billion in industrial design wins, though Nvidia still controls more than 80 percent of the accelerator market.

Company: QUALCOMM Incorporated (QCOM) — Q3 FY2026

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