"Qualcomm's Q1 FY2026 print was strong on the surface. Revenue came in at $12.25 billion, up 5% year over year and a record for the company, while non-GAAP diluted EPS of $3.50 beat consensus by 3%."
"The bigger signal was the capital return. Qualcomm repurchased 15 million shares for $2.6 billion and paid out $949 million in dividends, bringing total capital return to $3.6 billion in a single quarter."
"Automotive revenue hit $1.1 billion, up 15%, marking a second straight billion-dollar quarter, while IoT climbed 9% to $1.69 billion. Those non-handset lines are exactly what bulls have been waiting to see scale."
"CEO Cristiano Amon acknowledged the headwind, saying memory supply constraints are throttling handset unit production across the industry, and Qualcomm's Q2 guide reflects that pressure directly."
Qualcomm's stock increased by 7% following a strong earnings report, despite a revenue forecast of $10.2 billion to $11 billion, which was below expectations. The company reported record revenue of $12.25 billion and a non-GAAP EPS of $3.50. A significant capital return program, including a $2.6 billion buyback and $949 million in dividends, contributed to investor confidence. Additionally, revenue from automotive and IoT sectors showed growth, indicating successful diversification efforts.
Read at 24/7 Wall St.
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