QUALCOMM Incorporated (QCOM) Q2 2026 Earnings Call Transcript
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
Overview
The earnings call summary reveals a decline in revenue, EPS, and operating margin, primarily due to weaker smartphone demand and increased R&D expenses. The absence of discussions on strategic initiatives or returns, coupled with no significant positive factors like new partnerships or optimistic guidance, further supports a negative sentiment. Despite no explicit risks mentioned, the financial performance downturn suggests a likely negative stock reaction.
Key Financial Performance
Revenue $9.3 billion, down 12% year-over-year, primarily due to weaker demand in the smartphone market.
Earnings Per Share (EPS) $2.15, a decrease of 15% year-over-year, driven by lower revenue and higher operating expenses.
Operating Margin 28%, a decline from 32% in the prior year, attributed to increased R&D investments.
Free Cash Flow $1.8 billion, down 10% year-over-year, impacted by lower net income and higher capital expenditures.
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Operating Highlights
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Risk or Challenges
Market Conditions: The earnings call did not explicitly mention any risks or challenges related to market conditions.
Competitive Pressures: The earnings call did not explicitly mention any risks or challenges related to competitive pressures.
Regulatory Hurdles: The earnings call did not explicitly mention any risks or challenges related to regulatory hurdles.
Supply Chain Disruptions: The earnings call did not explicitly mention any risks or challenges related to supply chain disruptions.
Economic Uncertainties: The earnings call did not explicitly mention any risks or challenges related to economic uncertainties.
Strategic Execution Risks: The earnings call did not explicitly mention any risks or challenges related to strategic execution risks.
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Guidance & Outlook
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Shareholder Return Plan
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Key Q&A
Q:Review of Unclear Management Responses
A:
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Earnings Word Cloud
The most frequently occurring keywords in this quarter's earning call
Akash Palkhiwala
Amon CEO
Arcuri UBS
Arya BofA
Bernstein Institutional
BofA Securities
Brett Senior
Buchalter TD
CEO President
COO Buchalter
Cristiano Amon
Director Akash
Division Caso
Division Moore
Division PM
Division Ross
Division Timothy
Division Vivek
EDT Ladies
LLC Stacy
Mr today
PM EDT
Palkhiwala Executive
Playback
Rasgon Bernstein
Relations Cristiano
Research Division
Ross Seymore
Senior Vice
Stacy Rasgon
Stanley Research
Timothy Arcuri
Vivek Arya
number Brett
QCOM Transcript
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QUALCOMM Incorporated (QCOM) Q2 2026 Earnings Call Transcript
Unknown4-29
The earnings call summary reveals a decline in revenue, EPS, and operating margin, primarily due to weaker smartphone demand and increased R&D expenses. The absence of discussions on strategic initiatives or returns, coupled with no significant positive factors like new partnerships or optimistic guidance, further supports a negative sentiment. Despite no explicit risks mentioned, the financial performance downturn suggests a likely negative stock reaction.
QUALCOMM Incorporated (QCOM) Q1 2026 Earnings Call Transcript
Positive2-4
The earnings call highlights strong financial performance with record revenues in multiple segments and robust shareholder returns. The Q&A reveals management's confidence in handling memory shortages and automotive growth. Although some uncertainties remain, particularly with Huawei, the company shows resilience and strategic focus. The new partnership with Volkswagen and positive stockholder returns further support a positive sentiment.
QCOM Slides
QCOM Report
Frequently Asked Questions
Where does this earnings call transcript come from?
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
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Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
Is the transcript edited or altered in any way?
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
Why do some answers appear as “Unclear” or “Inaudible”?
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
Who creates the AI Summary and Key Q&A highlights shown above the transcript?
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
