QUALCOMM Incorporated Q2 2026 Earnings Recap

Qualcomm shares surged 19.7% after earnings, as the company delivered non-GAAP EPS at the high end of guidance and highlighted accelerating momentum in automotive, AI, and edge device markets. Record automotive revenues and the rollout of next-gen Snapdragon platforms underscored the potential for ongoing diversification and share gains.

Key Takeaways

• Fiscal Q2 revenues reached $10.6 billion, with non-GAAP EPS of $2.65 at the upper end of guidance.
• QCT segment posted $9.1 billion in revenue, while the licensing business contributed $1.4 billion.
• Automotive revenues exceeded a $5 billion annual run rate for the first time; management expects to exit the year at a rate above $6 billion.
• New Snapdragon X2 platforms for PCs and ongoing progress in AI, IoT, and industrial applications were highlighted as drivers of future growth opportunities.
• Initial custom silicon shipments for a leading hyperscaler are set for the December quarter, positioning Qualcomm for expansion in the data center and custom AI markets.