Qualcomm (QCOM) reported net income of US$ 13.6 bn in fiscal year 2026, ended September 27, 2026, up 146% from US$ 5.5 bn in fiscal year 2025. Earnings per share (EPS) were US$ 12.70, versus US$ 5.01. The result includes an income tax benefit of US$ 5.7 bn (US$ 5.32 per share), resulting from the release of a deferred tax asset valuation allowance created in fiscal Q4 2025.
Fiscal-year revenue was US$ 43.1 bn, down 3%. Pre-tax income was US$ 9.4 bn, down 26%. On an adjusted basis (non-GAAP, which excludes items such as stock-based compensation and acquisition costs), net income was US$ 11.3 bn, down 15%, and adjusted EPS came in at US$ 10.54, versus US$ 12.03.
In fiscal Q4 2026, revenue was US$ 10.3 bn, down 8%. Net income was US$ 1.3 bn, versus a net loss of US$ 3.1 bn a year earlier, and EPS was US$ 1.17. Adjusted EPS was US$ 2.17, down 28%. Automotive revenue reached US$ 2.0 bn, up 89%, while handset revenue fell 26%, to US$ 5.1 bn. IoT (internet of things) revenue rose 4%, to US$ 1.9 bn.
During the fiscal year, the company returned US$ 11.7 bn to shareholders: US$ 7.8 bn in share buybacks and US$ 3.9 bn in dividends, of US$ 3.62 per share. CEO Cristiano Amon said that non-handset revenue should grow more than 60% in fiscal year 2027 and reiterated the US$ 5 bn data center target.
For fiscal Q1 2027, Qualcomm projects revenue of US$ 10.4 bn to US$ 11.2 bn, EPS of US$ 1.03 to US$ 1.23 and adjusted EPS of US$ 2.15 to US$ 2.35. The company expects the full benefit of price increases, to offset higher input costs, to appear in the gross margins of the QCT division in the second half of fiscal year 2027.
