Form 10-Q · Quarterly report
Qualcomm 10-Q, filed Jul 29, 2026
- Filed
- CIK
- 0000804328
- Accession no.
- 0000804328-26-000086
Summary
Qualcomm reported fiscal third-quarter 2026 revenue of $9.95 billion, down from $10.37 billion a year earlier, as lower QCT handset chipset shipments offset higher automotive and IoT revenue and flat licensing revenue. Qualcomm also recorded a $5.7 billion income tax benefit from releasing a valuation allowance on federal deferred tax assets after IRS Notice 2026-07 allowed it to reduce CAMT by previously capitalized domestic R&D expenditures.
Key points
- QCT revenue fell to $8.50 billion from $8.99 billion, with handset revenue down to $5.09 billion from $6.33 billion and automotive revenue up to $1.59 billion from $984 million.
- Research and development expenses rose to $2.61 billion from $2.23 billion, and selling, general and administrative expenses rose to $976 million from $771 million.
- Investment and other income, net rose to $1.01 billion from $358 million, driven by net gains on marketable securities from initial public offerings of certain QSI equity investments.
- Qualcomm estimated its annual effective income tax rate for fiscal 2026 to be a 40% benefit, lower than the U.S. federal statutory rate.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION Results of Operations Revenues (in millions) Three Months Ended Nine Months Ended June 28, 2026 June 29, 2025 Change June 28, 2026 June 29, 2025 Change Equipment and services $ 8,475 $ 8,893 $ (418) $ 28,002 $ 28,193 $ (191) Licensing 1,472 1,472 — 4,796 4,820 (24) $ 9,947 $ 10,365 $ (418) $ 32,798 $ 33,013 $ (215) Third quarter 2026 vs. 2025 The decrease in revenues in the third quarter of fiscal 2026 was primarily due to: - $502 million in lower equipment and services revenues from our QCT segment - $40 million in lower licensing revenues from our QTL segment + $88 million in higher equipment and services revenues from our Data Center segment, primarily…
An excerpt of the text as filed with the SEC, cut for length.
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