QUALCOMM Inc. logo

QUALCOMM Inc.

QCOM
Q2 2025

Revenue

$10B

-6%

Net Income

$3B

-5%
QCOM
Technology
Semiconductors

QUALCOMM Inc.

CIK: 0000804328

QUALCOMM Inc. logo

Next Earnings Report

Estimated based on historical filing patterns

Wed, Jul 29, 2026
Estimated
10-K
FQ4 2025

This date is an estimate based on the company's typical quarterly filing schedule. The actual filing date may vary.

Earnings Analysis

Analyzed 6 of 12 reports

Performance Summary - Q2 2025
bullish
maintained

Revenue
$10.4B
QoQ:-5.6%
YoY:+22.6%
Net Income
$2.7B
QoQ:-5.2%
YoY:+47.9%
Peer Comparison
Tech
(26 peers)
Peers: AAPL, MSFT, GOOGL, AMZN, META, TSLA, NVDA, SNOW, PLTR, NET, CRWD, DDOG, ZS, OKTA, MDB, TEAM, U, RBLX, AMD, INTC, AVGO, COIN, HOOD, CORZ, DOCN, IONQ
Analyze peer companies to see comparative metrics here

Financial Performance Trend

Sentiment:
bear
bear
neut
neut
bull
bull
Guidance:
lowered
lowered
maintain
maintain
maintain
maintain

Overall Analysis & Outlook

Over the past 5 quarters, QUALCOMM Inc. has been showing mixed sentiment with stable guidance. Revenue has grown 11.8% during this period. The latest quarter shows bullish sentiment with positive tone from management.

Latest Quarter Highlights:

Qualcomm delivered strong Q2 2025 performance with 10% revenue growth and 25% net income increase, driven by strength in handsets, IoT, and automotive segments. The company remains focused on 5G leadership and technology diversification.

Detailed Quarterly Reports

In-depth analysis of each quarter's earnings filing

Q2 2025

10-Q • Filed 7/30/2025

bullish

Summary

Qualcomm delivered strong Q2 2025 performance with 10% revenue growth and 25% net income increase, driven by strength in handsets, IoT, and automotive segments. The company remains focused on 5G leadership and technology diversification.

Revenue

$10.37B

Net Income

$2.67B

Guidance

maintained

Tone

positive

Capex

$785M0

Partnerships

New long-term licenses with two Chinese OEMs
Comprehensive 4G and 5G license agreement with Transsion

Key Quotes

"We believe that 5G combined with high-performance, low-power computing and on-device artificial intelligence will continue to drive adoption of technologies beyond mobile handsets"

"We continue to monitor recent changes in global trade policy"

Q1 2025

10-Q • Filed 4/30/2025

bullish

Summary

Qualcomm delivered strong Q1 2025 results with 17% revenue growth and 21% net income increase, driven by strong performance in handsets, automotive, and IoT segments. The company maintains a positive outlook on 5G and AI technologies.

Revenue

$10.98B

Net Income

$2.81B

Guidance

maintained

Tone

positive

Capex

$491M(+23.4% YoY)

Partnerships

Transsion licensing agreement
New Chinese OEM license agreements

Key Quotes

"We believe that 5G combined with high-performance, low-power computing and on-device artificial intelligence will continue to drive adoption"

"We continue to monitor the recent changes in global trade policy"

Q2 2024

10-Q • Filed 7/31/2024

neutral

Summary

Qualcomm delivered strong Q2 2024 results with 11% revenue growth and 18% net income increase. The company continues to face challenges from IoT inventory drawdown and intense competition, but remains optimistic about 5G technology opportunities beyond mobile handsets.

Revenue

$9.39B

Net Income

$2.13B

Guidance

maintained

Tone

cautious

Capex

$785M

Key Quotes

"We believe that 5G combined with high-performance, low-power processing and on-device intelligence will continue to drive adoption of certain technologies"

"We expect certain IoT customers will continue to draw down on their inventory, which will continue to have a negative impact on our revenues"

Q1 2024

10-Q • Filed 5/1/2024

neutral

Summary

Qualcomm delivered stable quarterly results with modest revenue growth and strong net income driven by semiconductor and licensing segments. The company faces ongoing challenges from IoT inventory drawdown, intense competition, and geopolitical tensions.

Revenue

$9.39B

Net Income

$2.33B

Guidance

maintained

Tone

cautious

Capex

$398M

Key Quotes

"We expect certain IoT customers will continue to draw down on their inventory, which will continue to have a negative impact on our revenues"

"We expect continued intense competition, including from vertical integration by certain of our customers"

"Current U.S./China trade relations and/or national security protection policies may negatively impact our business"

Q2 2023

10-Q • Filed 8/2/2023

bearish

Summary

Qualcomm experienced significant revenue and earnings decline in Q2 2023, driven by macroeconomic weakness, reduced consumer demand for smartphones, and elevated customer inventory levels. The company is implementing cost reduction initiatives and restructuring efforts to manage the challenging environment.

Revenue

$8.45B

Net Income

$1.80B

Guidance

lowered

Tone

cautious

Capex

$1.16B

Key Quotes

"Revenues were negatively impacted by the weakness in the macroeconomic environment"

"We expect to take additional restructuring actions to enable continued investments in key growth and diversification opportunities"

Q1 2023

10-Q • Filed 5/3/2023

bearish

Summary

Qualcomm experienced a significant 17% revenue decline in Q1 2023, driven by macroeconomic weakness and customer inventory drawdowns. The company is facing challenges in smartphone and IoT markets while maintaining moderate pricing power.

Revenue

$9.28B

Net Income

$1.70B

Guidance

lowered

Tone

cautious

Capex

$851M

Key Quotes

"We expect the current macroeconomic environment challenges to continue"

"Macroeconomic environment weakness negatively impacted consumer demand for smartphones and other devices"

Sector Comparison

How QCOM performs vs Technology sector and Semiconductors peers

Sector Ranking (Technology)

#6of 16

Category Ranking (Semiconductors)

#4of 5

Key Metrics vs Averages

Revenue (Quarterly)
45% below avg

QCOM

$10,365M

Semiconductors Avg

$18,720.8M

Technology Avg

$10,432.731M

Capex Growth (YoY)
At average

QCOM

0.0%

Semiconductors Avg

0.0%

Technology Avg

26.1%

Overall Sentiment
bullish

Guidance: maintained • Tone: positive