Qualcomm Q2 Earnings Beat, Stock Jumps 9%

Qualcomm reported Q2 FY2026 adjusted EPS $2.65 beating consensus $2.55 and revenue $10.6B, slightly above estimates but down 3% YoY.
The company guided Q3 revenue $9.2‑$10B and EPS $2.10‑$2.30, both below analyst expectations, prompting an initial >6% stock drop.
Shares rebounded, gaining 15% intraday and closing up 9% after announcing earlier chip shipments to a hyperscaler and a Chinese smartphone rebound.
Automotive revenues hit record $1.33B, up 38% YoY, while handset revenue fell 13% to $6.02B.