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Qualcomm tops Q4 estimates, but Q1 earnings outlook falls short sending stock lower

Qualcomm shares fell between 6% and 11% following the release of fiscal fourth-quarter results that surpassed Wall Street expectations, paired with a weaker-than-expected first-quarter profit forecast. The company reported $10.32 billion in revenue and adjusted earnings of $2.17 per share for the fourth quarter. However, handset revenue dropped 26% year-over-year to $5.14 billion, heavily impacted by declining Apple handset revenue, smartphone memory shortages, rising supply costs, and broader pressures in smartphone chip sales. Qualcomm issued a first-quarter fiscal 2027 revenue guidance range of $10.4 billion to $11.2 billion, with the midpoint of its adjusted profit forecast trailing consensus estimates.

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  • ✓ Qualcomm reported fiscal fourth-quarter revenue of $10.32 billion and adjusted earnings of $2.17 per share, beating Wall Street estimates.
  • ✓ Handset chip revenue fell 26% year-over-year to $5.14 billion.
  • ✓ Qualcomm guided first-quarter fiscal 2027 revenue to a range of $10.4 billion to $11.2 billion.
  • ✓ Qualcomm shares dropped between 6% and 11% following the earnings and guidance release.
🛡️ Source Corroboration: 14 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Qualcomm released its fiscal fourth-quarter 2026 earnings report and issued a softer-than-expected profit outlook for the first quarter of fiscal 2027.

Live updates

  1. Qualcomm Q4 Results Beat Estimates But Q1 Guidance Disappoints

    Qualcomm shares fell between 6% and 11% following the release of fiscal fourth-quarter results that surpassed Wall Street expectations, paired with a weaker-than-expected first-quarter profit forecast. The company reported $10.32 billion in revenue and adjusted earnings of $2.17 per share for the fourth quarter. However, handset revenue dropped 26% year-over-year to $5.14 billion, heavily impacted by declining Apple handset revenue, smartphone memory shortages, rising supply costs, and broader pressures in smartphone chip sales. Qualcomm issued a first-quarter fiscal 2027 revenue guidance range of $10.4 billion to $11.2 billion, with the midpoint of its adjusted profit forecast trailing consensus estimates.

    Why it matters

    Qualcomm entered the earnings report as a high-margin chipmaker facing stock declines over the prior month. While the company is attempting to offset smartphone market pressures by expanding into automotive, Internet of Things, custom AI data centers, and long-term 5G infrastructure deals such as partnerships with SpaceX, these newer growth engines are still in ramp mode. The tension between solid historical profitability and a soft forward outlook has triggered a sharp contraction in share value.

    What is confirmed

    • Qualcomm reported fiscal fourth-quarter revenue of $10.32 billion and adjusted earnings of $2.17 per share, beating Wall Street estimates.
    • Handset chip revenue fell 26% year-over-year to $5.14 billion.
    • Qualcomm guided first-quarter fiscal 2027 revenue to a range of $10.4 billion to $11.2 billion.
    • Qualcomm shares dropped between 6% and 11% following the earnings and guidance release.

    Still unconfirmed

    • Weak profit guidance was specifically tied to declining Apple handset revenue and memory shortages weighing on smartphone sales.

    What to watch next

    • Performance of newer growth segments including automotive and AI data centers
    • Future smartphone demand and memory supply cost trends
    • Actual financial results in the upcoming first quarter of fiscal 2027
    Sources used for this update (20)
    1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. www.marketbeat.com — Top Biotech Stocks To Research - October 14th | MarketBeat
    3. pro.thestreet.com — The Week Ahead – Apple, Midterms and Jobs Test a Market on Edge
    4. CNBC — Qualcomm stock drops 6% on weak earnings forecast as memory shortage weighs on smartphone sales
    5. Bloomberg.com — Qualcomm Gives Tepid Profit Outlook After Supply Costs Rise
    6. Qualcomm — Qualcomm Earnings Release Available on Company's Investor Relations Website
    7. Yahoo Finance — Qualcomm tops Q4 estimates, but Q1 earnings outlook falls short sending stock lower
    8. Reuters — Qualcomm shares slump as weak smartphone chip sales overshadow data-center momentum
    9. www.cnbc.com — Qualcomm (QCOM) earnings report Q4 2026 - CNBC
    10. finance.yahoo.com — Qualcomm tops Q4 estimates, but Q1 earnings outlook falls ...
    11. financefeeds.com — Qualcomm Shares Drop 5.75% After Hours as Q1 Earnings ...
    12. www.marketbeat.com — QCOM Stock Falls on Soft Guidance Despite Earnings Beat
    confidence 100%
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