Qualcomm reports its third-quarter fiscal 2026 earnings after the market closes today, with Wall Street expecting the chipmaker to post revenue of approximately $9.67 billion and earnings per share of $2.23, according to analyst consensus.
The expected revenue figure represents a 6.8% decline year over year, continuing a stretch of weakness in the semiconductor sector. For earnings per share, analysts project a steeper pullback: consensus estimates show EPS down roughly 33.2% from $2.29 in the year-ago quarter, reflecting ongoing headwinds in memory chips and broader market softness.
Qualcomm itself guided for Q3 EPS between $2.10 and $2.30 on revenue of $9.2 billion to $10 billion, according to guidance issued on April 29, 2026. That range brackets analyst consensus, leaving limited room for major surprises on the headline numbers alone.
Yet investors are watching intently for clues about Qualcomm’s forward outlook. The company enters earnings with a 90.5% beat probability, according to analysis from 24/7 Wall St., suggesting options markets expect strong upside risk. Analyst consensus also implies roughly 31% upside from current stock levels, signaling appetite for positive guidance or commentary from management on a recovery in demand.
Qualcomm stock closed Monday at around $161.27 and has traded lower in recent sessions, down roughly 30% from its 2026 peak of $259.92. The pullback reflects broader semiconductor sector weakness, with memory chip shortages and softer smartphone demand pressuring multiple competitors throughout the first half of 2026.
The earnings call will begin at 1:45 p.m. Pacific time following the results release, with CEO Cristiano Amon and the executive team available to discuss the quarter and outlook. The call will be broadcast live and an audio replay will remain available for 30 days.
Historically, Qualcomm earnings have driven volatile single-day moves in the stock. In its most recent report on April 29, 2026, the company beat EPS expectations with $2.65 per share versus a consensus estimate of $2.57, and shares rose more than 10% in premarket trading the following day. A beat or miss on guidance could similarly move the stock sharply once the market digests the numbers.
Sources
- Yahoo Finance — Analyst consensus EPS and revenue expectations for Q3 2026
- Zacks Investment Research — Revenue and EPS projections; year-over-year decline figures
- AlphaStreet — Consensus EPS estimate of $2.23 per share from 29 analysts
- Qualcomm Investor Relations — Q3 2026 earnings call scheduled for July 29, 2026, at 1:45 p.m. Pacific; prior guidance issued April 29, 2026
- 24/7 Wall St. — Beat probability of 90.5%; analyst consensus upside potential of 31%
- Public.com — Q2 2026 earnings comparison; EPS of $2.65 beat estimate of $2.57
- TradingView / GuruFocus — Year-over-year revenue decline of 6.8%
