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Qualcomm Q4 beat driven by automotive, non-handset growth underway

Nov 4, 2026, 4:56 PM EST2 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Beat on revenue and EPS with strong autos growth; license renewals reduce downside risk; long-term data-center targets could drive multiple expansion, though near-term sentiment was pressured by mixed investor expectations.

AI summary

What happened, with direct paths to the underlying reporting

Qualcomm posted a Q4 beat amid a sharp rise in automotive/IoT revenue, despite weakness in handsets. The company renewed key QTL licenses with Apple, Huawei and Transsion and announced Starlink and Amazon AI data-center initiatives, signaling a strategic shift toward non-handset growth. Guidance reinforces a multi-year data-center ramp, though near-term sentiment may remain volatile.

Q4 revenue $10.322B, down 8% YoY; beat consensus $10.111B.
QCT $9.015B (-8% YoY); QTL $1.304B (-7% YoY).
Automotive revenue $1.99B, +89% YoY; first $2B quarter.
QTL licenses renewed with Apple, Huawei and Transsion; Starlink and Amazon partnerships.
Q1 guide $10.40–$11.20B; FY2027 data-center revenue target $5B.

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