QCOM · Earnings call · 2026Q3T · Full report
Guidance / Outlook
QUALCOMM INC/DE · 2026-11-04 · Importance 93 · Surprise 82 · In source text
For fiscal 2027, Qualcomm expects non-handset QCT revenues across automotive, IoT, and data center to grow by more than 60% year over year and to represent more than 50% of QCT revenue for the year. Management reiterated data center revenue targets of $5 billion in fiscal 2027 and $15 billion in fiscal 2029, with revenue expected to scale through fiscal 2027 and exit the year at a $7 billion run rate. Management expects automotive, IoT, and data center growth to more than offset the decline in Apple product revenue, and forecasts the 2026-to-2027 handset market to be flat to slightly down.
Key facts
- QUALCOMM INC/DE's fiscal 2029 targets include $40 billion in non-handset revenue, with more than $15 billion from data center.
- QUALCOMM INC/DE forecast fiscal Q1 2027 revenue of $10.4 billion to $11.2 billion and non-GAAP EPS of $2.15 to $2.35.
- QUALCOMM INC/DE forecast fiscal Q1 2027 QCT revenue of $9 billion to $9.6 billion and EBT margin of 20% to 22%.
- QUALCOMM INC/DE expects QCT non-handset revenue to grow by more than 60% year over year in fiscal 2027.
- QUALCOMM INC/DE forecast fiscal Q1 2027 QTL revenue of $1.3 billion to $1.5 billion and EBT margin of 72% to 76%.
- QUALCOMM INC/DE expects fiscal 2027 QCT non-handset revenue across automotive, IoT, and data center to grow more than 60% year over year, beginning in fiscal Q1.
- QUALCOMM INC/DE expects non-handset revenue to represent more than 50% of QCT revenue in fiscal 2027.
- QUALCOMM INC/DE said fiscal 2027 non-handset revenue would more than offset the decline in Apple product revenue, and handsets would be less than 50% of total revenue that year.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | — | QUALCOMM INC/DE's fiscal 2029 targets include $40 billion in non-handset revenue, with more than $15 billion from data center. |
| revenue | unclear | committed | — | QUALCOMM INC/DE forecast fiscal Q1 2027 revenue of $10.4 billion to $11.2 billion and non-GAAP EPS of $2.15 to $2.35. |
| revenue | positive | probable | — | QUALCOMM INC/DE expects fiscal 2027 QCT non-handset revenue across automotive, IoT, and data center to grow more than 60% year over year,… |
| revenue | positive | committed | — | QUALCOMM INC/DE said fiscal 2027 non-handset revenue would more than offset the decline in Apple product revenue, and handsets would be… |