Qualcomm (QCOM) Q1 2023 Financial Results Summary

2026-02-05 · Stocks · QuoteReporter

Qualcomm (QCOM) Q1 2026 Financial Results Summary

Release Date: February 4, 2026

Qualcomm Incorporated (NASDAQ: QCOM) has reported its financial results for the first quarter of fiscal 2026, which ended on December 28, 2025. The company achieved record revenues and continued to expand its business in key areas.

Key Financial Metrics

Total Revenue:
$12.3 billion in Q1 FY26, up 5% from $11.7 billion in Q1 FY25.
Earnings Before Taxes (EBT):
$3.5 billion in Q1 FY26, a decrease of 2% from $3.6 billion in Q1 FY25.
Net Income:
$3.0 billion in Q1 FY26, down 6% from $3.2 billion in Q1 FY25.
Diluted Earnings per Share (EPS):
$2.78 for Q1 FY26, a decrease of 2% from $2.83 in the same quarter last year.
Non-GAAP EPS: $3.50, reflecting an increase of 3% from $3.41 in Q1 FY25.

Segment Performance

Qualcomm CDMA Technologies (QCT) Revenue:
$10.6 billion in Q1 FY26, a 5% increase from $10.1 billion in Q1 FY25.
Qualcomm Technology Licensing (QTL) Revenue:
$1.6 billion, representing a 4% rise from $1.5 billion in Q1 FY25.
Revenue Streams within QCT:
Handsets: $7.8 billion, up 3% year-over-year.
Automotive: $1.1 billion, a 15% increase compared to $961 million.
IoT (Internet of Things): $1.7 billion, up 9% from $1.5 billion.

Operating Expenses and Other Metrics

Total Costs and Expenses:
$8.9 billion, up from $8.1 billion in Q1 FY25.
Operating Income:
$3.4 billion, down from $3.6 billion year-over-year.
Return of Capital to Stockholders:
Total of $3.6 billion returned including:
- Dividends: $949 million, equating to $0.89 per share.
- Share Repurchases: $2.6 billion spent to buy back 15 million shares of common stock.

Balance Sheet Highlights

Total Assets:
$53.0 billion, up from $50.1 billion in the previous quarter.
Total Liabilities:
$30.0 billion, an increase from $28.9 billion.
Stockholders’ Equity:
$23.1 billion, compared to $21.2 billion in the prior quarter.

Guidance for Q2 FY26

Expected Revenues:
Between $10.2 billion and $11.0 billion.
QCT Revenues:
Predicted to be $8.8 billion to $9.4 billion.
QTL Revenues:
Expected to be in the range of $1.2 billion to $1.4 billion.
GAAP Diluted EPS Guidance:
Estimated at $1.69 to $1.89.
Non-GAAP Diluted EPS Guidance:
Projected at $2.45 to $2.65.

Conclusion

Qualcomm’s Q1 FY26 results reflect strong revenue growth amidst a challenging market environment due to memory supply constraints and a robust focus on premium smartphone demand. The company continues to invest in its future with strategic acquisitions and share repurchase programs while delivering value to its shareholders through dividends.

Three Months Ended	December 28, 2025	December 29, 2024
Revenues:
Equipment and services	$10,466	$9,942
Licensing	$1,786	$1,727
Total revenues	$12,252	$11,669
Costs and expenses:
Cost of revenues	$5,568	$5,161
Research and development	$2,453	$2,230
Selling, general and administrative	$865	$723
Total costs and expenses	$8,886	$8,114
Operating income	$3,366	$3,555
Interest expense	-$169	-$163
Investment and other income, net	$350	$243
Income before income taxes	$3,547	$3,635
Income tax expense	-$543	-$455
Net income	$3,004	$3,180
Basic earnings per share	$2.81	$2.86
Diluted earnings per share	$2.78	$2.83
Shares used in per share calculations:
Basic	1,070	1,110
Diluted	1,079	1,122

	December 28, 2025	September 28, 2025
ASSETS
Current assets:
Cash and cash equivalents	$7,205	$5,520
Restricted cash	—	$2,323
Marketable securities	$4,617	$4,635
Accounts receivable, net	$4,153	$4,315
Inventories	$6,665	$6,526
Other current assets	$1,968	$2,435
Total current assets	$24,608	$25,754
Property, plant and equipment, net	$4,893	$4,690
Goodwill	$14,183	$11,358
Other intangible assets, net	$1,627	$1,148
Other assets	$7,723	$7,193
Total assets	$53,034	$50,143
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$2,709	$2,791
Payroll and other benefits related liabilities	$1,505	$1,839
Unearned revenues	$379	$358
Other current liabilities	$5,229	$4,156
Total current liabilities	$9,822	$9,144
Unearned revenues	$79	$71
Long-term debt	$14,817	$14,811
Other liabilities	$5,243	$4,911
Total liabilities	$29,961	$28,937
Stockholders’ equity:
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding	—	—
Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,074 and 1,074 shares issued and outstanding, respectively	—	—
Retained earnings	$22,498	$20,646
Accumulated other comprehensive income	$575	$560
Total stockholders’ equity	$23,073	$21,206
Total liabilities and stockholders’ equity	$53,034	$50,143