Qualcomm's third quarter 2026 EPS beats by 44% driven by 61% growth in Automotive revenue.

Qualcomm reported third quarter fiscal 2026 revenue of $9.95 billion and non-GAAP EPS of $2.21, beating consensus estimates of $9.68 billion and $1.54, respectively. The results were driven by strong growth in the company's diversification segments, which offset continued weakness in the handset market.

Key Highlights

• Automotive revenue grew 61% year-over-year to $1.59 billion, exceeding analyst expectations and marking 23 consecutive quarters of double-digit growth.
• The core Handsets segment remained weak, with revenue declining 20% year-over-year to $5.09 billion.
• Combined revenue from Automotive and IoT segments grew 28% year-over-year, highlighting progress in the company's diversification efforts.