{ "ticker": "QCOM", "cik": "0000804328", "company": "QUALCOMM Incorporated", "business_type": "technology", "schema_template": "standard operating company (semiconductor products plus patent licensing), with the QCT / QTL / QSI reportable-segment detail the company puts on the face of its statements", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions), except per-share amounts and share counts, which are actual dollars per share and actual shares", "units_notes_seen": { "FY2025 10-K consolidated balance sheets": "(In millions, except par value amounts)", "FY2025 10-K consolidated statements of operations": "(In millions, except per share data)", "FY2025 10-K consolidated statements of cash flows": "(In millions)", "FY2025 10-K consolidated statements of stockholders' equity (dividends per share announced)": "(In millions, except per share data)", "FY2025 10-K segment information table (Note 8)": "(in millions)", "FY2025 10-K QCT revenue streams table (Note 2)": "(in millions)", "Q3 FY2026 10-Q condensed consolidated balance sheets": "(In millions, except par value amounts) (Unaudited)", "Q3 FY2026 10-Q condensed consolidated statements of operations": "(In millions, except per share data) (Unaudited)", "Q3 FY2026 10-Q condensed consolidated statements of cash flows": "(In millions) (Unaudited)", "Q3 FY2026 10-Q condensed consolidated statements of stockholders' equity (dividends per share announced)": "(In millions, except per share data) (Unaudited)", "Q3 FY2026 10-Q segment information table (Note 6)": "(in millions)", "Q3 FY2026 10-Q QCT revenue streams table (Note 2)": "(in millions)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": "none; QUALCOMM reports in U.S. dollars" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-09-28", "filed": "2025-11-05", "accession": "0000804328-25-000085", "url": "https://www.sec.gov/Archives/edgar/data/804328/000080432825000085/0000804328-25-000085-index.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-06-28", "filed": "2026-07-29", "accession": "0000804328-26-000086", "url": "https://www.sec.gov/Archives/edgar/data/804328/000080432826000086/0000804328-26-000086-index.htm", "source": "facts" } ], "annual": [ { "fiscal_year": 2025, "label": "FY2025", "period_start": "2024-09-30", "period_end": "2025-09-28", "period_type": "fiscal year", "weeks_in_period": 52, "source_accession": "0000804328-25-000085", "income_statement": { "equipment_and_services_revenue": 37869000000, "licensing_revenue": 6415000000, "total_revenues": 44284000000, "cost_of_revenue": 19738000000, "research_and_development": 9042000000, "selling_general_and_administrative": 3110000000, "other_operating_expense": 39000000, "total_costs_and_expenses": 31929000000, "operating_income": 12355000000, "interest_expense": -664000000, "investment_and_other_income_net": 972000000, "income_before_income_taxes": 12663000000, "income_tax_expense_benefit": -7122000000, "income_from_continuing_operations": 5541000000, "discontinued_operations_net_of_tax": 0, "net_income": 5541000000, "basic_eps": 5.05, "diluted_eps": 5.01, "basic_shares": 1096000000, "diluted_shares": 1105000000, "gross_profit": 24546000000 }, "balance_sheet": { "cash_and_cash_equivalents": 5520000000, "restricted_cash": 2323000000, "marketable_securities": 4635000000, "accounts_receivable_net": 4315000000, "inventories": 6526000000, "other_current_assets": 2435000000, "total_current_assets": 25754000000, "deferred_tax_assets": 743000000, "property_plant_and_equipment_net": 4690000000, "goodwill": 11358000000, "other_intangible_assets_net": 1148000000, "other_assets": 6450000000, "total_assets": 50143000000, "trade_accounts_payable": 2791000000, "short_term_debt": 0, "other_current_liabilities": 4156000000, "total_current_liabilities": 9144000000, "long_term_debt": 14811000000, "total_liabilities": 28937000000, "retained_earnings": 20646000000, "total_equity": 21206000000, "total_debt": 14811000000, "shares_issued_and_outstanding": 1074000000 }, "cash_flow": { "depreciation_and_amortization": 1602000000, "share_based_compensation": 2783000000, "operating_cash_flow": 14012000000, "capital_expenditures": -1192000000, "investing_cash_flow": -800000000, "share_repurchases": -8791000000, "dividends_paid": -3805000000, "financing_cash_flow": -13196000000, "free_cash_flow": 12820000000 }, "per_share": { "dividends_per_share_announced": 3.48 }, "segments": { "qct": { "revenues": 38367000000, "cost_of_revenue": 19302000000, "operating_expenses": 7395000000, "ebt": 11670000000 }, "qtl": { "revenues": 5582000000, "costs_and_expenses": 1539000000, "ebt": 4043000000 }, "qsi": { "revenues": 0, "cost_of_revenue": 0, "operating_expenses": 13000000, "investment_and_other_income_net": 193000000, "ebt": 180000000 }, "reportable_segments_revenues": 43949000000, "reportable_segments_ebt": 15893000000, "nonreportable_segments_revenues": 192000000, "nonreportable_segments_ebt": -39000000 }, "qct_revenue_by_stream": { "handsets": 27793000000, "automotive": 3957000000, "iot": 6617000000, "total_qct_revenues": 38367000000 } }, { "fiscal_year": 2024, "label": "FY2024", "period_start": "2023-09-25", "period_end": "2024-09-29", "period_type": "fiscal year", "weeks_in_period": 53, "source_accession": "0000804328-25-000085", "income_statement": { "equipment_and_services_revenue": 32791000000, "licensing_revenue": 6171000000, "total_revenues": 38962000000, "cost_of_revenue": 17060000000, "research_and_development": 8893000000, "selling_general_and_administrative": 2759000000, "other_operating_expense": 179000000, "total_costs_and_expenses": 28891000000, "operating_income": 10071000000, "interest_expense": -697000000, "investment_and_other_income_net": 962000000, "income_before_income_taxes": 10336000000, "income_tax_expense_benefit": -226000000, "income_from_continuing_operations": 10110000000, "discontinued_operations_net_of_tax": 32000000, "net_income": 10142000000, "basic_eps": 9.09, "diluted_eps": 8.97, "basic_shares": 1116000000, "diluted_shares": 1130000000, "gross_profit": 21902000000 }, "balance_sheet": { "cash_and_cash_equivalents": 7849000000, "restricted_cash": 0, "marketable_securities": 5451000000, "accounts_receivable_net": 3929000000, "inventories": 6423000000, "other_current_assets": 1579000000, "total_current_assets": 25231000000, "deferred_tax_assets": 5162000000, "property_plant_and_equipment_net": 4665000000, "goodwill": 10799000000, "other_intangible_assets_net": 1244000000, "other_assets": 8053000000, "total_assets": 55154000000, "trade_accounts_payable": 2584000000, "short_term_debt": 1364000000, "other_current_liabilities": 4425000000, "total_current_liabilities": 10504000000, "long_term_debt": 13270000000, "total_liabilities": 28880000000, "retained_earnings": 25687000000, "total_equity": 26274000000, "total_debt": 14634000000, "shares_issued_and_outstanding": 1113000000 }, "cash_flow": { "depreciation_and_amortization": 1706000000, "share_based_compensation": 2648000000, "operating_cash_flow": 12202000000, "capital_expenditures": -1041000000, "investing_cash_flow": -3623000000, "share_repurchases": -4121000000, "dividends_paid": -3687000000, "financing_cash_flow": -9269000000, "free_cash_flow": 11161000000 }, "per_share": { "dividends_per_share_announced": 3.3 }, "segments": { "qct": { "revenues": 33196000000, "cost_of_revenue": 16648000000, "operating_expenses": 7021000000, "ebt": 9527000000 }, "qtl": { "revenues": 5572000000, "costs_and_expenses": 1545000000, "ebt": 4027000000 }, "qsi": { "revenues": 18000000, "cost_of_revenue": 7000000, "operating_expenses": 12000000, "investment_and_other_income_net": 105000000, "ebt": 104000000 }, "reportable_segments_revenues": 38786000000, "reportable_segments_ebt": 13658000000, "nonreportable_segments_revenues": 176000000, "nonreportable_segments_ebt": -14000000 }, "qct_revenue_by_stream": { "handsets": 24863000000, "automotive": 2910000000, "iot": 5423000000, "total_qct_revenues": 33196000000 } }, { "fiscal_year": 2023, "label": "FY2023", "period_start": "2022-09-26", "period_end": "2023-09-24", "period_type": "fiscal year", "weeks_in_period": 52, "source_accession": "0000804328-25-000085", "income_statement": { "equipment_and_services_revenue": 30028000000, "licensing_revenue": 5792000000, "total_revenues": 35820000000, "cost_of_revenue": 15869000000, "research_and_development": 8818000000, "selling_general_and_administrative": 2483000000, "other_operating_expense": 862000000, "total_costs_and_expenses": 28032000000, "operating_income": 7788000000, "interest_expense": -694000000, "investment_and_other_income_net": 349000000, "income_before_income_taxes": 7443000000, "income_tax_expense_benefit": -104000000, "income_from_continuing_operations": 7339000000, "discontinued_operations_net_of_tax": -107000000, "net_income": 7232000000, "basic_eps": 6.47, "diluted_eps": 6.42, "basic_shares": 1117000000, "diluted_shares": 1126000000, "gross_profit": 19951000000 }, "cash_flow": { "depreciation_and_amortization": 1809000000, "share_based_compensation": 2484000000, "operating_cash_flow": 11299000000, "capital_expenditures": -1450000000, "investing_cash_flow": 762000000, "share_repurchases": -2973000000, "dividends_paid": -3462000000, "financing_cash_flow": -6663000000, "free_cash_flow": 9849000000 }, "per_share": { "dividends_per_share_announced": 3.1 }, "segments": { "qct": { "revenues": 30382000000, "cost_of_revenue": 15367000000, "operating_expenses": 7091000000, "ebt": 7924000000 }, "qtl": { "revenues": 5306000000, "costs_and_expenses": 1678000000, "ebt": 3628000000 }, "qsi": { "revenues": 28000000, "cost_of_revenue": 15000000, "operating_expenses": 12000000, "investment_and_other_income_net": -13000000, "ebt": -12000000 }, "reportable_segments_revenues": 35716000000, "reportable_segments_ebt": 11540000000, "nonreportable_segments_revenues": 144000000, "nonreportable_segments_ebt": -38000000 }, "qct_revenue_by_stream": { "handsets": 22570000000, "automotive": 1872000000, "iot": 5940000000, "total_qct_revenues": 30382000000 } } ], "quarterly": [ { "fiscal_year": 2026, "fiscal_quarter": 3, "label": "Q3 FY2026", "period_start": "2026-03-30", "period_end": "2026-06-28", "period_type": "three months", "weeks_in_period": 13, "source_accession": "0000804328-26-000086", "income_statement": { "equipment_and_services_revenue": 8475000000, "licensing_revenue": 1472000000, "total_revenues": 9947000000, "cost_of_revenue": 4670000000, "research_and_development": 2607000000, "selling_general_and_administrative": 976000000, "other_operating_expense": 68000000, "total_costs_and_expenses": 8321000000, "operating_income": 1626000000, "interest_expense": -178000000, "investment_and_other_income_net": 1014000000, "income_before_income_taxes": 2462000000, "income_tax_expense_benefit": -460000000, "net_income": 2002000000, "basic_eps": 1.89, "diluted_eps": 1.87, "basic_shares": 1057000000, "diluted_shares": 1069000000, "gross_profit": 5277000000 }, "balance_sheet": { "cash_and_cash_equivalents": 4533000000, "restricted_cash": 0, "marketable_securities": 3771000000, "accounts_receivable_net": 4668000000, "inventories": 8379000000, "other_current_assets": 1653000000, "total_current_assets": 23004000000, "deferred_tax_assets": 5679000000, "property_plant_and_equipment_net": 5217000000, "goodwill": 14274000000, "other_intangible_assets_net": 1510000000, "other_assets": 7683000000, "total_assets": 57367000000, "trade_accounts_payable": 2897000000, "short_term_debt": 2489000000, "other_current_liabilities": 4277000000, "total_current_liabilities": 11413000000, "long_term_debt": 12781000000, "total_liabilities": 29709000000, "retained_earnings": 27263000000, "total_equity": 27658000000, "total_debt": 15270000000, "shares_issued_and_outstanding": 1057000000 }, "per_share": { "dividends_per_share_announced": 0.92 }, "segments": { "qct": { "revenues": 8504000000, "cost_of_revenue": 4452000000, "operating_expenses": 1860000000, "ebt": 2192000000 }, "qtl": { "revenues": 1278000000, "costs_and_expenses": 397000000, "ebt": 881000000 }, "qsi": { "revenues": 0, "operating_expenses": 3000000, "investment_and_other_income_net": 771000000, "ebt": 768000000 }, "reportable_segments_revenues": 9782000000, "reportable_segments_ebt": 3841000000, "nonreportable_segments_revenues": 165000000, "nonreportable_segments_ebt": -214000000 }, "qct_revenue_by_stream": { "handsets": 5086000000, "automotive": 1588000000, "iot": 1830000000, "total_qct_revenues": 8504000000 } }, { "fiscal_year": 2025, "fiscal_quarter": 3, "label": "Q3 FY2025", "period_start": "2025-03-31", "period_end": "2025-06-29", "period_type": "three months", "weeks_in_period": 13, "source_accession": "0000804328-26-000086", "income_statement": { "equipment_and_services_revenue": 8893000000, "licensing_revenue": 1472000000, "total_revenues": 10365000000, "cost_of_revenue": 4606000000, "research_and_development": 2226000000, "selling_general_and_administrative": 771000000, "other_operating_expense": 0, "total_costs_and_expenses": 7603000000, "operating_income": 2762000000, "interest_expense": -168000000, "investment_and_other_income_net": 358000000, "income_before_income_taxes": 2952000000, "income_tax_expense_benefit": -286000000, "net_income": 2666000000, "basic_eps": 2.44, "diluted_eps": 2.43, "basic_shares": 1092000000, "diluted_shares": 1099000000, "gross_profit": 5759000000 }, "per_share": { "dividends_per_share_announced": 0.89 }, "segments": { "qct": { "revenues": 8993000000, "cost_of_revenue": 4497000000, "operating_expenses": 1825000000, "ebt": 2671000000 }, "qtl": { "revenues": 1318000000, "costs_and_expenses": 376000000, "ebt": 942000000 }, "qsi": { "revenues": 0, "operating_expenses": 3000000, "investment_and_other_income_net": 152000000, "ebt": 149000000 }, "reportable_segments_revenues": 10311000000, "reportable_segments_ebt": 3762000000, "nonreportable_segments_revenues": 54000000, "nonreportable_segments_ebt": -10000000 }, "qct_revenue_by_stream": { "handsets": 6328000000, "automotive": 984000000, "iot": 1681000000, "total_qct_revenues": 8993000000 } } ], "year_to_date": { "fiscal_year": 2026, "label": "Nine months ended June 28, 2026", "period_start": "2025-09-29", "period_end": "2026-06-28", "period_type": "nine months", "weeks_in_period": 39, "source_accession": "0000804328-26-000086", "income_statement": { "equipment_and_services_revenue": 28002000000, "licensing_revenue": 4796000000, "total_revenues": 32798000000, "cost_of_revenue": 15138000000, "research_and_development": 7523000000, "selling_general_and_administrative": 2738000000, "other_operating_expense": 97000000, "total_costs_and_expenses": 25496000000, "operating_income": 7302000000, "interest_expense": -519000000, "investment_and_other_income_net": 1458000000, "income_before_income_taxes": 8241000000, "income_tax_expense_benefit": 4136000000, "net_income": 12377000000, "gross_profit": 17660000000, "basic_eps": 11.63, "diluted_eps": 11.53, "basic_shares": 1064000000, "diluted_shares": 1073000000 }, "cash_flow": { "depreciation_and_amortization": 1202000000, "share_based_compensation": 2579000000, "operating_cash_flow": 8405000000, "capital_expenditures": -1578000000, "investing_cash_flow": -1648000000, "share_repurchases": -6806000000, "dividends_paid": -2868000000, "financing_cash_flow": -10046000000, "free_cash_flow": 6827000000 }, "per_share": { "dividends_per_share_announced": 2.7 }, "segments": { "qct": { "revenues": 28193000000, "cost_of_revenue": 14598000000, "operating_expenses": 5636000000, "ebt": 7959000000 }, "qtl": { "revenues": 4252000000, "costs_and_expenses": 1147000000, "ebt": 3105000000 }, "qsi": { "revenues": 0, "operating_expenses": 8000000, "investment_and_other_income_net": 925000000, "ebt": 917000000 }, "reportable_segments_revenues": 32445000000, "reportable_segments_ebt": 11981000000, "nonreportable_segments_revenues": 353000000, "nonreportable_segments_ebt": -419000000 }, "qct_revenue_by_stream": { "handsets": 18934000000, "automotive": 4015000000, "iot": 5244000000, "total_qct_revenues": 28193000000 }, "prior_year_comparative": { "fiscal_year": 2025, "label": "Nine months ended June 29, 2025", "period_start": "2024-09-30", "period_end": "2025-06-29", "period_type": "nine months", "weeks_in_period": 39, "source_accession": "0000804328-26-000086", "income_statement": { "equipment_and_services_revenue": 28193000000, "licensing_revenue": 4820000000, "total_revenues": 33013000000, "cost_of_revenue": 14704000000, "research_and_development": 6672000000, "selling_general_and_administrative": 2200000000, "other_operating_expense": 0, "total_costs_and_expenses": 23576000000, "operating_income": 9437000000, "interest_expense": -493000000, "investment_and_other_income_net": 748000000, "income_before_income_taxes": 9692000000, "income_tax_expense_benefit": -1034000000, "net_income": 8658000000, "gross_profit": 18309000000, "basic_eps": 7.85, "diluted_eps": 7.79, "basic_shares": 1102000000, "diluted_shares": 1112000000 }, "cash_flow": { "depreciation_and_amortization": 1231000000, "share_based_compensation": 2120000000, "operating_cash_flow": 10016000000, "capital_expenditures": -785000000, "investing_cash_flow": -329000000, "share_repurchases": -6347000000, "dividends_paid": -2848000000, "financing_cash_flow": -9760000000, "free_cash_flow": 9231000000 }, "per_share": { "dividends_per_share_announced": 2.59 }, "segments": { "qct": { "revenues": 28546000000, "cost_of_revenue": 14395000000, "operating_expenses": 5377000000, "ebt": 8774000000 }, "qtl": { "revenues": 4172000000, "costs_and_expenses": 1144000000, "ebt": 3028000000 }, "qsi": { "revenues": 0, "operating_expenses": 9000000, "investment_and_other_income_net": 188000000, "ebt": 179000000 }, "reportable_segments_revenues": 32718000000, "reportable_segments_ebt": 11981000000, "nonreportable_segments_revenues": 152000000, "nonreportable_segments_ebt": -15000000 }, "qct_revenue_by_stream": { "handsets": 20831000000, "automotive": 2904000000, "iot": 4811000000, "total_qct_revenues": 28546000000 } } }, "trailing_twelve_months": { "label": "Trailing twelve months ended June 28, 2026", "period_start": "2025-06-30", "period_end": "2026-06-28", "period_type": "trailing twelve months", "source_accession": "0000804328-26-000086", "derivation": "fiscal 2025 full year, plus the nine months ended June 28, 2026, less the nine months ended June 29, 2025", "income_statement": { "equipment_and_services_revenue": 37678000000, "licensing_revenue": 6391000000, "total_revenues": 44069000000, "cost_of_revenue": 20172000000, "gross_profit": 23897000000, "research_and_development": 9893000000, "selling_general_and_administrative": 3648000000, "other_operating_expense": 136000000, "total_costs_and_expenses": 33849000000, "operating_income": 10220000000, "interest_expense": -690000000, "investment_and_other_income_net": 1682000000, "income_before_income_taxes": 11212000000, "income_tax_expense_benefit": -1952000000, "net_income": 9260000000 }, "cash_flow": { "depreciation_and_amortization": 1573000000, "share_based_compensation": 3242000000, "operating_cash_flow": 12401000000, "capital_expenditures": -1985000000, "investing_cash_flow": -2119000000, "share_repurchases": -9250000000, "dividends_paid": -3825000000, "financing_cash_flow": -13482000000, "free_cash_flow": 10416000000 }, "derived_from_accessions": [ "0000804328-25-000085", "0000804328-26-000086" ] }, "notes": [ "All figures are stated in actual U.S. dollars. The statements themselves are printed in millions (per-share amounts in dollars, share counts in millions), and every figure here has been scaled up accordingly.", "QUALCOMM operates on a 52-53 week fiscal year ending on the last Sunday in September. Fiscal 2025 and 2023 contained 52 weeks; fiscal 2024 contained 53 weeks, which flatters fiscal 2024 growth slightly and depresses fiscal 2025 growth slightly. The filings print period-end dates only; the period_start date shown for each period is the day after the preceding period ended, consistent with the company's stated week counts.", "Annual figures come from the fiscal 2025 Form 10-K (accession 0000804328-25-000085). That filing presents three years of operations and cash flows (fiscal 2025, 2024 and 2023) but only two balance sheets (September 28, 2025 and September 29, 2024), so fiscal 2023 carries no balance sheet here.", "Quarterly, year-to-date and segment figures come from the Form 10-Q for the quarter ended June 28, 2026 (accession 0000804328-26-000086).", "Gross profit is not a line QUALCOMM prints. It is shown here as total revenues less cost of revenues, on the company's own definitions.", "Free cash flow is not a line QUALCOMM prints. It is shown here as net cash provided by operating activities less capital expenditures.", "Total debt is short-term debt plus long-term debt as those captions appear on the balance sheet. At September 28, 2025 short-term debt was nil; at June 28, 2026 it was $2.5 billion, of which $2.0 billion is the current portion of long-term debt and $498 million is commercial paper.", "Cash-flow line items keep the sign the statement prints, so capital expenditures, dividends paid and share repurchases are negative (outflows), and free cash flow is operating cash flow plus that negative capital expenditure figure. Income tax expense is likewise shown negative and an income tax benefit positive, matching the statement of operations.", "The 10-Q's condensed statements of cash flows are presented on a nine-month cumulative basis only, and the earnings release furnished with the results Form 8-K for the quarter (accession 0000804328-26-000085) prints the same nine-month columns. No discrete three-month cash flow figures are published for the June 2026 or June 2025 quarters, so none are reported here; the nine-month cash flows appear under the year-to-date block.", "Fiscal 2025 net income of $5.54 billion fell well below fiscal 2024's $10.14 billion even though operating income rose from $10.07 billion to $12.36 billion. The difference is tax: income tax expense was $7.12 billion in fiscal 2025 against $226 million in fiscal 2024, because the company established a $5.7 billion valuation allowance on its federal deferred tax assets in the fourth quarter of fiscal 2025 after the One Big Beautiful Bill Act left it expecting to be perpetually subject to the corporate alternative minimum tax.", "The mirror image of that appears in fiscal 2026. Following Notice 2026-07, QUALCOMM released the valuation allowance in the second quarter of fiscal 2026, producing a $5.7 billion income tax benefit. That is why the nine months ended June 28, 2026 show a net income tax benefit of $4.14 billion and net income of $12.38 billion on lower revenues than the year-ago nine months. The June 2026 quarter itself carries a normal $460 million tax expense, a 19% effective rate.", "Segment revenues and earnings before income taxes (EBT) are the company's own segment measures. Certain income and charges - share-based compensation, some interest expense and investment income, certain research and development and selling, general and administrative expense, acquisition-related amortization and restructuring - are not allocated to segments, so segment EBT does not sum to consolidated income before income taxes. The 10-K's reconciliation shows reportable-segment EBT of $15.89 billion against consolidated pre-tax income of $12.66 billion for fiscal 2025.", "The trailing-twelve-month block is derived, not filed: it is fiscal 2025 as reported, plus the nine months ended June 28, 2026, less the nine months ended June 29, 2025. It carries no earnings per share or share count, because weighted-average share counts from different periods cannot be added.", "Other operating expense of $68 million in the June 2026 quarter and $97 million for the nine months is restructuring and restructuring-related charges, substantially all severance.", "The $2.32 billion of restricted cash on the September 28, 2025 balance sheet was cash committed to the pending acquisition of Alphawave IP Group plc; it is nil at June 28, 2026. Goodwill rose from $11.36 billion to $14.27 billion over the same nine months, and $1.90 billion of common stock was issued in an acquisition.", "QUALCOMM reports in U.S. dollars and is not an ADR, and there were no stock splits in the periods covered, so no currency, per-ADS or split adjustments have been applied." ], "uncertainties": [ "No discrete three-month operating cash flow, capital expenditure or free cash flow figure is reported for the June 2026 or June 2025 quarters. Neither the 10-Q nor the quarter's earnings release publishes a three-month cash flow column, and differencing was not possible from these two filings alone.", "No balance sheet is carried for the June 2025 quarter. The 10-Q presents balance sheets only at June 28, 2026 and September 28, 2025; a June 29, 2025 balance sheet is furnished with the fiscal third quarter 2025 earnings release, 8-K accession 0000804328-25-000044, which is outside the two filings this record is built from.", "No balance sheet is reported for fiscal 2023. The fiscal 2025 10-K presents only two balance sheet columns.", "The trailing-twelve-month figures are arithmetic from three reported columns rather than a period the company reports, and they are not adjusted for the fact that fiscal 2025's fourth quarter carries the $5.7 billion deferred-tax valuation allowance charge while the nine months of fiscal 2026 carry its $5.7 billion release. Trailing net income of $9.26 billion therefore reflects both tax events and is not a clean run-rate.", "Shares issued and outstanding at each balance sheet date (1,057 million at June 28, 2026; 1,074 million at September 28, 2025; 1,113 million at September 29, 2024) are read from the common stock caption on the balance sheet rather than a separate numeric column.", "Period start dates are computed from the company's stated 52/53-week fiscal calendar, since the statements label their columns by end date only." ], "headline": { "period": "Q3 FY2026", "period_end_words": "June 28, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 9947000000, "text": "$9.95 billion", "exact": "$9,947,000,000", "compact": "$9.95B", "abs": "$9.95 billion", "prior_value": 10365000000, "prior": "$10.37 billion", "priorabs": "$10.37 billion", "yoy": "down 4.0%", "source": { "array": "quarterly", "field": "income_statement.total_revenues", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } }, { "label": "Net income", "format": "usd", "value": 2002000000, "text": "$2.00 billion", "exact": "$2,002,000,000", "compact": "$2.00B", "abs": "$2.00 billion", "prior_value": 2666000000, "prior": "$2.67 billion", "priorabs": "$2.67 billion", "yoy": "down 24.9%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } }, { "label": "Diluted EPS", "format": "eps", "value": 1.87, "text": "$1.87", "exact": "$1.87", "compact": "$1.87", "abs": "$1.87", "prior_value": 2.43, "prior": "$2.43", "priorabs": "$2.43", "yoy": "down 23.0%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } }, { "label": "Operating income", "format": "usd", "value": 1626000000, "text": "$1.63 billion", "exact": "$1,626,000,000", "compact": "$1.63B", "abs": "$1.63 billion", "prior_value": 2762000000, "prior": "$2.76 billion", "priorabs": "$2.76 billion", "yoy": "down 41.1%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } }, { "label": "Licensing revenue", "format": "usd", "value": 1472000000, "text": "$1.47 billion", "exact": "$1,472,000,000", "compact": "$1.47B", "abs": "$1.47 billion", "prior_value": 1472000000, "prior": "$1.47 billion", "priorabs": "$1.47 billion", "yoy": "flat", "source": { "array": "quarterly", "field": "income_statement.licensing_revenue", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } }, { "label": "Handset chipset revenue", "format": "usd", "value": 5086000000, "text": "$5.09 billion", "exact": "$5,086,000,000", "compact": "$5.09B", "abs": "$5.09 billion", "prior_value": 6328000000, "prior": "$6.33 billion", "priorabs": "$6.33 billion", "yoy": "down 19.6%", "source": { "array": "quarterly", "field": "qct_revenue_by_stream.handsets", "index": 0, "period_label": "Q3 FY2026", "period_end": "2026-06-28", "period_start": "2026-03-30", "span_days": 90, "source_accession": "0000804328-26-000086", "prior_index": 1, "prior_period_label": "Q3 FY2025", "prior_period_end": "2025-06-29", "prior_period_start": "2025-03-31", "prior_span_days": 90, "prior_source_accession": "0000804328-26-000086", "gap_days": 364 } } ], "summary": "QUALCOMM Incorporated reported $9.95 billion in revenue for Q3 FY2026, the quarter ended June 28, 2026, down 4.0% from a year earlier, and net income of $2.00 billion, down 24.9%, or $1.87 per diluted share. The shortfall came from the chipset business, where handset revenue was $5.09 billion, down 19.6%, after major smartphone customers trimmed build plans to work down inventory in response to memory supply constraints, while automotive and IoT revenue grew and licensing revenue held flat at $1.47 billion. Operating income fell more steeply than net income, to $1.63 billion, down 41.1%, on a lower gross margin and higher research and development and selling costs, with net gains on initial public offerings of strategic equity investments cushioning earnings below the operating line.", "qa": [ { "q": "How much revenue did Qualcomm report in Q3 FY2026?", "a": "Qualcomm reported $9.95 billion in revenue for Q3 FY2026, the quarter ended June 28, 2026. That is down 4.0% from $10.37 billion in the same quarter a year earlier." }, { "q": "How much did Qualcomm earn in Q3 FY2026?", "a": "Qualcomm earned net income of $2.00 billion in Q3 FY2026, down 24.9% from $2.67 billion a year earlier, or $1.87 per diluted share against $2.43. Operating income was $1.63 billion, down 41.1%, so profit fell more steeply at the operating level than at the bottom line, where net gains on initial public offerings of strategic equity investments provided a cushion." }, { "q": "Why did Qualcomm's revenue fall in Q3 FY2026?", "a": "Qualcomm's handset chipset revenue was $5.09 billion in Q3 FY2026, down 19.6% from $6.33 billion a year earlier, after major smartphone customers reduced build plans to work down inventory in response to memory supply constraints and related price increases. Automotive and IoT chipset revenue both grew over the same period, and licensing revenue was flat at $1.47 billion." }, { "q": "Did the deferred tax valuation allowance affect Qualcomm's Q3 FY2026 results?", "a": "Qualcomm established the valuation allowance against its federal deferred tax assets in the fourth quarter of fiscal 2025 and released it in the second quarter of fiscal 2026, so neither Q3 FY2026 nor the year-ago quarter it is compared against carries that charge or that benefit. Qualcomm's net income of $2.00 billion for Q3 FY2026, down 24.9%, is therefore a comparison between two quarters that both exclude it. That does not make the comparison tax-neutral: Qualcomm's effective tax rate was higher in Q3 FY2026 than in the year-ago quarter, for reasons unrelated to the valuation allowance, and that higher rate is why net income fell by a larger percentage than income before income taxes did." } ] }, "company_details": { "Name": "Qualcomm Inc/De", "Ticker": "QCOM", "CIK": "0000804328", "Exchange": "Nasdaq", "State": "California", "Incorporation": "Delaware", "SIC": "3663", "Office": "Manufacturing", "Industry": "Radio & Tv Broadcasting & Communications Equipment" }, "next_filing": { "predicted_date": "2026-11-04", "predicted_type": "10-K" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-06-28", "form": "10-Q", "accession": "0000804328-26-000086", "fiscal_year_end": "0927", "source": "facts" } }