FinanceQuartzabout 23 hours ago
Qualcomm Beats Revenue Expectations on AI Push
2 min read
Qualcomm reported GAAP revenue of $43.1 billion for fiscal 2026, down 3%, while non-GAAP earnings fell 12% to $10.54 a share. Automotive revenue surged 89% to a record $1.99 billion, and IoT revenue rose 4% to $1.89 billion, beating analyst estimates. The company also agreed to acquire AI startup Modular for $3.92 billion in an all-stock deal.
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