Qualcomm Incorporated (QCOM) Earnings: Q4 Fiscal 2026 Results and Next Report Date

The quarter ended September 27, 2026 and Qualcomm published the results on November 4, 2026. Revenue and diluted EPS are shown against Q4 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Qualcomm reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q4 fiscal 2026 GAAP revenues include a $120 million payment to a customer from a legal settlement, which Qualcomm excludes from non-GAAP revenues ($10,442 million).
• The year-ago GAAP net loss reflects a $5.7 billion valuation allowance on federal deferred tax assets set up in Q4 fiscal 2025. Qualcomm released it as an income tax benefit in Q2 fiscal 2026.
• Starting in Q1 fiscal 2027, Qualcomm reports its Data Center business inside the QCT segment. In fiscal 2026 it was a nonreportable segment.

Source: Qualcomm Q4 and fiscal 2026 results, November 4, 2026. Also in the Form 10-K for the fiscal year ended September 27, 2026. Figures as reported; checked against the release on November 10, 2026.

How Qualcomm splits revenue in its own release, under its own labels, for Q4 fiscal 2026 against Q4 fiscal 2025. Indented lines are parts of the line above them.

• Qualcomm's QCT revenue was $9.0 billion in Q4 fiscal 2026, down 8% from $9.8 billion in Q4 fiscal 2025, 87% of total revenue.
• Qualcomm's QTL revenue was $1.3 billion in Q4 fiscal 2026, down 7% from $1.4 billion in Q4 fiscal 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Qualcomm's guidance table for Q1 fiscal 2027: revenues of $10.4 billion to $11.2 billion (QCT $9.0 billion to $9.6 billion, QTL $1.3 billion to $1.5 billion), GAAP diluted EPS of $1.03 to $1.23 and non-GAAP diluted EPS of $2.15 to $2.35. QCT guidance now includes Data Center.

In its Q4 fiscal 2026 release, Qualcomm said:

“Non-handset revenues are projected to grow by more than 60% year-over-year, and we are reiterating our fiscal 2027 Data Center revenue target of $5B.”

“The semiconductor industry is experiencing a broad-based increase in input costs across wafer fabrication, assembly, test, advanced packaging, memory and other materials.”

“We anticipate the full benefit of these actions to be reflected in QCT gross margins in the second half of fiscal 2027.”

Source: Qualcomm Q4 fiscal 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the QCOM forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS, each as first reported in that quarter's release. Q2 fiscal 2026 EPS of $6.88 includes the $5.7 billion tax benefit from releasing the valuation allowance, and Q4 fiscal 2025's loss of $2.89 per share includes setting it up.

Qualcomm's next report is expected around February 3, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q4 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q4 fiscal 2026 (this page), reported Nov 4, 2026

Qualcomm reports two operating segments that carry its revenue: QCT, its semiconductor business, and QTL, which licenses its patent portfolio. In Q4 fiscal 2026 QCT revenues were $9,015 million and QTL revenues $1,304 million, of total GAAP revenues of $10,322 million. Qualcomm splits QCT by where its chips are used: handsets $5,137 million, automotive $1,990 million and IoT $1,888 million. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026)

Qualcomm's handset revenues fell 26% from $6,961 million a year earlier, while automotive grew 89% from $1,053 million, its first quarter above $2 billion. For the full year Qualcomm put the handset decline mainly down to lower chipset shipments to certain major OEMs, which were cutting inventory after memory supply constraints and related price increases. It attributed the automotive gain to a $1.3 billion increase in revenues per unit and $712 million in higher shipments from new vehicle launches with its Snapdragon digital cockpit and ADAS/AD products. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026; Qualcomm Form 10-K, fiscal 2026, Nov 4, 2026)

Qualcomm's sales are concentrated. In fiscal 2026 Apple and Samsung each accounted for 10% or more of consolidated revenues, and the 10-K says Qualcomm expects Apple to primarily use its own internally developed modems going forward. By customer headquarters, China (including Hong Kong) was $18,079 million, or 42% of fiscal 2026 revenues, down from 46%; the United States was 25% and South Korea 22%. (Qualcomm Form 10-K, fiscal 2026, Nov 4, 2026)

Qualcomm's Data Center business sat outside QCT and QTL in fiscal 2026. Its revenues rose $235 million for the year, mainly from the acquisition of Alphawave IP Group, completed on December 18, 2025. Q4 GAAP revenues also absorbed a $120 million payment to a customer from a legal settlement, which Qualcomm adds back to reach non-GAAP revenues of $10,442 million. (Qualcomm Form 10-K, fiscal 2026, Nov 4, 2026; Qualcomm Q4 fiscal 2026 release, Nov 4, 2026)

Qualcomm's GAAP diluted EPS was $1.17 in Q4 fiscal 2026 and its non-GAAP EPS $2.17. Non-GAAP excludes share-based compensation ($0.72 per share), other items ($0.20) and the QSI strategic investments segment ($0.09). Other items in the quarter included $235 million of restructuring and restructuring-related charges and $141 million of acquisition-related charges. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026)

The year-ago comparison is distorted by tax. Qualcomm reported a GAAP loss of $2.89 per share in Q4 fiscal 2025 after setting up a $5.7 billion valuation allowance on its federal deferred tax assets, then released it in Q2 fiscal 2026 after new Treasury and IRS guidance on the corporate alternative minimum tax. That benefit, $5.32 per share, is why fiscal 2026 GAAP EPS of $12.70 is above non-GAAP EPS of $10.54. Qualcomm applies a fixed non-GAAP tax rate, 12.5% in Q4. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026; Qualcomm Form 10-K, fiscal 2026, Nov 4, 2026)

Qualcomm's diluted share count was 1,073 million in the quarter against 1,078 million a year earlier. In Q4 it repurchased 6 million shares for $1,011 million and paid $987 million of dividends ($0.92 per share); over fiscal 2026 it bought back 48 million shares for $7,817 million. $19.6 billion remained authorized for repurchases at September 27, 2026. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026; Qualcomm Form 10-K, fiscal 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Qualcomm publishes a one-quarter outlook in its release. For Q1 fiscal 2027 it guided revenues of $10.4 billion to $11.2 billion, with QCT at $9.0 billion to $9.6 billion and QTL at $1.3 billion to $1.5 billion, GAAP diluted EPS of $1.03 to $1.23 and non-GAAP diluted EPS of $2.15 to $2.35. The QCT range now includes Data Center. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026)

Qualcomm's CEO said non-handset revenues are projected to grow by more than 60% in fiscal 2027 and reiterated a fiscal 2027 Data Center revenue target of $5B. The release also says input costs are rising across wafer fabrication, packaging and memory, and that Qualcomm is raising product prices, with the full benefit expected in QCT gross margins in the second half of fiscal 2027. (Qualcomm Q4 fiscal 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Qualcomm, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Qualcomm's own release and filings put weight on for Q4 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning QCOM is on is QCOM a buy or a sell?, what analysts expect next is on the QCOM forecast, and what the company does is on the Qualcomm Incorporated (QCOM) stock page.

Every number on this page can be traced to a document Qualcomm published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.