On July 30, Qualcomm (QCOM.O) reported Q3 fiscal 2026 revenue of $9.95 billion, compared to $10.365 billion in the same period last year, a year-over-year decline of 4%, and above market expectations of $9.66 billion. The company expects Q4 revenue to be between $9.7 billion and $10.5 billion, with market expectations at $10.02 billion. It also forecast that revenue from Apple-related products will decline at a faster pace starting from Q4. In the near term, revenue growth from non-handset businesses, including data centers, is expected to accelerate from 24% in fiscal 2026 to over 60% in fiscal 2027. In fiscal 2026, unprecedented memory price increases and supply shortages have created cyclical headwinds for the global smartphone industry. The company expects that the year-over-year increase in non-handset business revenue in fiscal 2027 will exceed the total revenue from Apple products in fiscal 2026. As of the time of writing, Qualcomm's stock fell 3.97% in after-hours trading.
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Qualcomm Q3 Revenue Down 4% YoY, Stock Falls Nearly 4% in After-Hours Trading
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