Qualcomm (QCOM) Q3 FY2026 Earnings Overview: Soft $2.15 EPS Outlook Triggers a 2.62% Decline

Qualcomm's Q3 FY2026 results beat revenue expectations but slightly missed adjusted EPS, while Q4 non-GAAP EPS guidance came in below consensus, driving a 2.62% post-earnings decline. Strong automotive (up 61%) and IoT growth only partially offset a 20% handset revenue drop and margin pressure from input-cost inflation. Near-term focus shifts to handset demand recovery, pricing pass-through, and reduced Apple modem share impacting QCT profitability.