Q2 2026 Qualcomm Inc Earnings Call Transcript
Key Points
- Qualcomm Inc (QCOM) reported revenues of $10.6 billion and non-GAAP earnings per share of $2.65, with EPS at the high end of their guidance.
- The company achieved record automotive revenues, exceeding $5 billion in annualized revenues for the first time, driven by their Snapdragon Digital Chassis platform.
- QCT IoT revenues increased by 9% year-over-year, indicating growth across consumer and industrial products.
- Qualcomm Inc (QCOM) is seeing a step function increase in strategic customer engagement, particularly in AI and automotive sectors.
- The company returned $3.7 billion to stockholders during the quarter, reflecting an acceleration of their capital return program.
- Qualcomm Inc (QCOM) is experiencing challenges in the handset market due to memory industry dynamics, leading to cautious OEM build plans and channel inventory drawdowns.
- QCT handset revenues were impacted by the cautious approach of OEMs, particularly in China, due to memory supply uncertainties.
- The company anticipates a sequential decline in QTL revenues due to weaker low-tier handset units.
- Qualcomm Inc (QCOM) is facing competitive pressures in the data center market, with other companies like NVIDIA focusing on the inferencing market.
- The company expects a step-down in share and more use of in-house SoCs by their primary premium smartphone customer, Samsung, in the future.
Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm second-quarter fiscal 2026 earnings conference call.
(Operator Instructions) As a reminder, this conference is being recorded, April 29, 2026.
Playback number for today's call is (877) 660-6853. International callers, please dial (201) 612-7415. Playback reservation number is 13759551.
I would now like to turn the call over to Brett Simpson, Senior Vice President of Investor Relations. Mr. Simpson, please go ahead.
Thank you, and good afternoon, everyone. Today's call will include prepared remarks by Cristiano Amon and Akash Palkhiwala. In addition, Alex Rogers will join the question-and-answer session. You can access our earnings release and a slide presentation that accompany this call on our Investor Relations website. In addition, this call is being webcast on qualcomm.com, and a replay will be available on our website later today.
During the call today, we will use non-GAAP
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