WS Investor
30 Apr 2026, 10:44
Qualcomm Jumps 11.7% in Pre-Market as Automotive and AI Momentum Overshadow Handset Weakness
Qualcomm shares are surging 11.7% in pre-market trading, extending an after-hours rally following a Q2 fiscal 2026 earnings report that beat expectations on both revenue and profit, even as near-term headwinds in the handset business temper the longer-term outlook.
The San Diego chipmaker reported non-GAAP EPS of $2.65 on revenue of $10.6 billion, surpassing analyst forecasts of $2.55 EPS and $10.58 billion in revenue. The beat is consistent with the company's strong track record in its diversification drive, which was already evident in the FY2025 full-year results where non-Apple QCT revenues grew 18% year-over-year and combined automotive and IoT revenues rose 27%. (Investing*com)
The standout story remains automotive. Automotive exceeded $5 billion in annualized revenues for the first time in Q2, driven by Qualcomm's fourth-generation Snapdragon Digital Chassis platform covering connectivity, telematics, infotainment and advanced driver assistance. The company expects to exit fiscal 2026 at an automotive run rate above $6 billion. QTL licensing added stability with 5% revenue growth to $1.38 billion and EBT margins above 70%. (Yahoo Finance, Stocktitan)
Qualcomm shares are surging 11.7% in pre-market trading, extending an after-hours rally following a Q2 fiscal 2026 earnings report that beat expectations on both revenue and profit, even as near-term headwinds in the handset business temper the longer-term outlook.
The San Diego chipmaker reported non-GAAP EPS of $2.65 on revenue of $10.6 billion, surpassing analyst forecasts of $2.55 EPS and $10.58 billion in revenue. The beat is consistent with the company's strong track record in its diversification drive, which was already evident in the FY2025 full-year results where non-Apple QCT revenues grew 18% year-over-year and combined automotive and IoT revenues rose 27%. (Investing*com)
The standout story remains automotive. Automotive exceeded $5 billion in annualized revenues for the first time in Q2, driven by Qualcomm's fourth-generation Snapdragon Digital Chassis platform covering connectivity, telematics, infotainment and advanced driver assistance. The company expects to exit fiscal 2026 at an automotive run rate above $6 billion. QTL licensing added stability with 5% revenue growth to $1.38 billion and EBT margins above 70%. (Yahoo Finance, Stocktitan)