Qualcomm Inc (NASDAQ:QCOM) reported second-quarter financial results that beat analyst estimates on Wednesday after market close.
Here are the key highlights.
Qualcomm Q2 Earnings
Qualcomm reported second-quarter revenue of $10.60 billion, down 2% year-over-year. The revenue total beat a Street consensus estimate of $10.59 billion according to data from Benzinga Pro.
Adjusted earnings per share were $2.65 for the quarter, beating a Street consensus estimate of $2.56.
Revenue was $9.08 billion for the company's QCT segment, down 4% year-over-year. QTL segment revenue was $1.38 billion, up 5% year-over-year.
QCT revenue breaks down as follows:
- Handset: $6.0 billion, -13% year-over-year
- Automotive: $1.33 billion, +38% year-over-year
- IoT: $1.73 billion, +9% year-over-year.
This marked a record quarter for QCT automotive revenue.
"We are pleased to deliver results in line with our guidance, reflecting solid execution as we navigate a challenging memory environment," Qualcomm CEO Cristiano Amon said.
The company completed $5.4 billion in share buybacks in the first half of fiscal 2026. A new $20 billion share buyback was recently announced by the company.
What's Next for Qualcomm
Guidance from the company calls for third-quarter revenue to be in a range of $9.2 billion to $10.0 billion.
The company expects QCT revenue to be in the range of $7.9 billion to $8.5 billion and QTL revenue to be in the range of $1.15 billion to $1.35 billion.
Guidance for third-quarter earnings per share is a range of $2.10 to $2.30.
"We are in a period of profound industry transformation – the rise of AI agents is reshaping our roadmap across every platform we develop. We are equally excited by our entry into the data center, where a leading hyperscaler custom silicon engagement is on track for initial shipments later this calendar year," Amon said.
The company will host an Investor Day on June 24 with an update on growth initiatives, including opportunities in Data Center and Physical AI.
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