Qualcomm (QCOM) Q4 GAAP EPS $1.17

Qualcomm reported fourth-quarter GAAP EPS of $1.17 and non-GAAP EPS of $2.17, with revenue falling 8% year over year to $10.32 billion on a GAAP basis and 7% to $10.44 billion non-GAAP, while fiscal 2026 GAAP EPS came in at $12.70 and non-GAAP EPS at $10.54 on $43.1 billion in GAAP revenue. The company renewed long-term QTL license agreements with Apple, Huawei and Transsion and announced a multi-generational product collaboration with Amazon for AI data centers, while QCT Automotive posted a record first $2 billion quarter, up 89% year over year. CEO Cristiano Amon said fiscal 2027 marks the start of a non-handset revenue inflection, with non-handset revenues projected to grow more than 60% year over year and the company reiterating its $5 billion fiscal 2027 data center revenue target. The results matter because they frame Qualcomm's push to diversify beyond smartphones amid declining overall revenue, with automotive and IoT combined growing 36% year over year. Investors will watch whether the data center ramp and non-handset growth materialize as guided in fiscal 2027.