Qualcomm will report first-quarter fiscal 2026 results after markets close today, February 4. Analysts expect earnings to dip while revenue edges higher, a setup that could weigh on the stock.
Wall Street projects adjusted earnings per share of $3.39, down from $3.41 a year earlier. Sales are forecast at about $12.12 billion, a 3.8% year-over-year rise.
The company has beaten earnings estimates for eight straight quarters. Investors will closely compare the results with the company’s prior guidance.
In its Q4 FY25 report, Qualcomm projected Q1 revenues of $11.8 billion to $12.6 billion and QCT revenues of $10.3 billion to $10.9 billion. It also guided adjusted EPS of $3.30 to $3.50.
The stock remains sensitive to handset market signals, so Q2 guidance may matter more than the reported quarter. (Ed. note: guidance often drives short-term stock moves.)
Cantor Fitzgerald analyst C.J. Muse cut his price target on Qualcomm to $160 from $185 while keeping a Neutral rating. Cantor expects solid December-quarter results but forecasts March-quarter guidance modestly below consensus and June-quarter guidance well below consensus.
