Qualcomm (QCOM) Reports Q1 2026 Revenue and Profit Down, Misses Guidance

Qualcomm Inc. (QCOM) reported first-quarter 2026 revenue of $24.1B, a 12% decline from $27.4B in Q1 2025, and GAAP net income of $1.36B, down 35% year-over-year. The company missed both revenue and EPS guidance, citing supply chain constraints and lower-than-expected 5G handset sales. Non-GAAP net income was $2.03B, a 10% decrease from the prior-year period. Revenue per connected device for the quarter was $15.25, down 14% from $17.75 in Q1 2025.