Qualcomm beats fiscal Q4 earnings and revenue expectations

The chipmaker topped Wall Street forecasts on both lines despite a bar that had already been set for a year-over-year decline Qualcomm has reported fiscal fourth-quarter results that beat Wall Street expectations for both earnings per share and revenue. Heading into the print, analysts expected non-GAAP EPS of about $2.16. That would mark a year-over-year drop of approximately 28% from $3.00 in the same quarter a year earlier. Revenue forecasts sat around $10.15 billion. That compares with $11.27 billion a year ago, a slide of roughly 10%. The fiscal Q4 report had been scheduled for November 4, 2026, after the market close. The weak spot everyone was watching is the handset business. Handset revenue was projected at about $5.2 billion for the quarter, which would be a significant year-over-year decline for the segment that has long been Qualcomm’s main earnings engine. Why the phone business is the problem child Qualcomm has been losing modem orders from Apple as the iPhone maker moves toward its own designs. Demand for Android devices has also been subdued. Rising memory costs have made things worse, squeezing phone makers and the components they buy. Supply chain issues affecting...