Qualcomm Q1 EPS Beats by $0.10, $12.25B Revenue Tops Estimates
Qualcomm’s Q1 fiscal 2026 EPS of $3.50 beat estimates by $0.10 and revenue of $12.25B exceeded forecasts by $140M, leading Piper Sandler to uphold its Overweight rating with a $200 target. Handset revenue is projected to fall 22% sequentially in March quarter due to OEM memory constraints.
1. Q1 Fiscal 2026 Earnings Results
Qualcomm posted Q1 fiscal 2026 EPS of $3.50, $0.10 above consensus, and revenue of $12.25 billion, $140 million ahead of expectations.
2. March Quarter Guidance
For the March quarter, the handset segment is projected to decline 22% sequentially due to memory shortages at key OEMs, particularly in the China market.
3. Piper Sandler Rating
Piper Sandler reaffirmed its Overweight rating and $200 price target following the earnings beat, highlighting confidence in Qualcomm’s diversified revenue streams.
4. Growth in Automotive and IoT
Automotive and IoT divisions delivered robust growth this quarter, and management plans to outline its data center strategy at the upcoming analyst day.