QUALCOMM Incorporated (QCOM) Q1 2026 (USD) Adj. EPS 3.50 (exp. 3.39), Revenue 12.25bln (exp. 12.21bln)

• Sees Q2 Adj. EPS USD 2.45-2.65 (exp. 2.89)
• Sees Q2 rev. 10.2bln-11.0bln (exp. 11.12bln)
• Outlook is impacted by industry-wide memory supply constraints
• Remains on track to achieve fiscal 2029 revenue goals.

Qualcomm's Q1 results have exceeded expectations on both earnings per share and revenue, which is a positive sign for the company. However, the guidance for Q2 falls short, suggesting potential challenges ahead, particularly due to industry-wide memory supply constraints. This mixed outlook could prompt a cautious response from the market as investors weigh the strong past performance against muted near-term expectations.