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- Apple Modem Transition (worsened) — Apple is increasingly using its own modem products, which will significantly reduce QCT revenues and cash flows.
- Memory Supply Constraints (new) — Memory supply constraints and price increases are causing handset OEMs to cut orders, negatively impacting financial results.
- Restructuring Charges (new) — Company recorded $68M in restructuring charges in Q3, primarily severance, indicating workforce reductions.
Qualcomm Q3 revenue falls 4% to $9.9B, net income drops 25% to $2.0B on handset weakness
Filed July 29, 2026 · Period ending June 28, 2026 · Compared to 10-Q Jul 30, 2025 · ~1 min read
Key Changes
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high
Revenue fell 4% to $9.9B and net income dropped 25% to $2.0B, driven by lower handset chip shipments as OEMs cut inventory due to memory supply constraints.
MD&A: Headline results verify on EDGAR → -
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Gross margin compressed to 53% from 56% on higher QCT product costs, while R&D and SG&A expenses rose sharply.
MD&A: Gross margin & expenses verify on EDGAR → -
high
Investment income surged $656M to $1.0B, driven by IPO gains on QSI equity investments, partially offsetting operating weakness.
MD&A: Investment gains verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 27, 2026 · How we verify