Qualcomm stock gains 1.53 percent after revenue beats estimates

Published on 10/04/2026 at 11:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On October 2, 2026, Qualcomm stock traded at USD 184.87 as analysts held a Hold consensus at USD 204.10. Q3 revenue beat estimates but EPS missed.

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Qualcomm stock (ISIN US7475251036) last traded at USD 184.87 on Nasdaq on October 2, 2026, up 1.53 percent from the prior close. The move followed a quarter in which revenue exceeded expectations, while earnings per share fell short of consensus.

Revenue beats while EPS misses

Qualcomm reported fiscal Q3 2026 revenue of USD 9.95 billion, compared with the USD 9.69 billion consensus estimate, according to MarketBeat on October 2, 2026. Adjusted EPS was USD 2.21, missing the USD 2.23 estimate by USD 0.02, while revenue declined 4.0 percent from the same quarter a year earlier.

The contrast matters for the investment case. Qualcomm is still producing sizable sales, but the earnings miss and year-over-year decline show that higher costs and weaker handset demand are limiting near-term operating leverage.

Automotive growth offsets handset pressure

Automotive revenue rose 61 percent year over year to a record USD 1.6 billion in fiscal Q3 2026, while handset revenue fell 20 percent to USD 5.1 billion, Barchart reported on September 27, 2026. Management guided to fiscal Q4 2026 adjusted EPS of USD 2.05-2.25, keeping the next earnings test centered on whether newer businesses can offset the handset contraction.

Analyst positioning reflects that tension. MarketBeat lists 2 Strong Buy, 12 Buy, 21 Hold and 3 Sell ratings, producing a Hold consensus from 38 analysts and an average target of USD 204.10. That target lies 10.4 percent above the October 2 price of USD 184.87, leaving the market focused on execution rather than a simple semiconductor-cycle recovery.

Stock stays below its yearly high

Qualcomm stock stood at USD 184.87 on Nasdaq at 4:00 p.m. ET on October 2, 2026, with volume of 10,092,090 shares. Its 52-week range was USD 121.99 to USD 259.92, and market capitalization was USD 194.1 billion as of the same date.