Qualcomm Revenue Guidance Miss, Stock Down 4.5%

Qualcomm Q2 FY2026 posted $10.6 bn revenue and $2.65 adjusted EPS, beating estimates but down 3% YoY.
Company forecast Q3 revenue $9.2‑$10 bn (midpoint $9.6 bn) below $10.26 bn consensus, and adjusted EPS $2.10‑$2.30 (midpoint $2.20) under $2.43 estimate.
Automotive revenue hit record $1.33 bn (+38% YoY); combined automotive & IoT up 20% YoY, while handset revenue fell 13% to $6.02 bn.
Qualcomm returned $3.7 bn to shareholders via $945 m dividends and $2.8 bn share buybacks and announced a new $20 bn repurchase authorization.