Qualcomm's Q3 Revenue Sees a 4% Year-over-Year Decline, Stock Drops Nearly 4% in After-Hours Trading

BlockBeats News, July 30, Qualcomm (QCOM.O) reported a revenue of $9.95 billion for the Q3 of its 2026 fiscal year, compared to $10.365 billion in the same period last year, a 4% year-over-year decrease, with the market expecting $9.66 billion.

The revenue for the fourth quarter is expected to be between $9.7 billion and $10.5 billion, with the market expectation at $10.02 billion. It is anticipated that the decline in revenue from Apple-related products will accelerate from the fourth quarter onwards. In the short term, the growth rate of non-smartphone businesses, including data centers, is expected to increase from 24% in the 2026 fiscal year to over 60% in the 2027 fiscal year.

In the 2026 fiscal year, unprecedented memory price increases and supply shortages have brought cyclical headwinds to the global smartphone industry. The year-over-year growth in non-smartphone business revenue for the 2027 fiscal year is expected to exceed the total revenue from Apple products in the 2026 fiscal year. At the time of writing, Qualcomm's stock fell by 3.97% in after-hours trading.