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StocksMediumUpdated•Originally published 29 July 2026•Updated 29 July 2026•
1 min read

Qualcomm Q3 Earnings Miss Estimates as Net Income Tumbles 25% on Supply Constraints

Key Facts

1Qualcomm reported fiscal third-quarter earnings that were in line with analyst expectations.
2The company provided light guidance for current-quarter earnings, citing an ongoing supply crunch for memory and computer parts.
3Qualcomm plans to raise prices during the memory crunch to offset rising costs and supply issues.

Amid persistent challenges in the global semiconductor sector, Qualcomm reported fiscal third-quarter earnings that fell short of analyst expectations. The company posted earnings per share of $2.21, missing the $2.23 estimate, while net income tumbled 25% year-on-year to $2 billion. Consequently, QCOM shares slipped in extended hours trading as investors reacted to the earnings miss and ongoing memory supply constraints.

These results highlight a broader divergence within the tech industry, where major players must navigate manufacturing constraints despite steady demand. According to market data, QCOM shares finished at $162.88 (close July 28, 2026), trading within a daily range of $162.16 to $167.92. This performance coincides with similar pressures observed in global manufacturing sectors, as reflected in recent PMI data from major international markets.

Looking ahead, investors are focused on Qualcomm's ability to pass higher costs to consumers to offset the income decline as the component shortage persists. Regarding upcoming catalysts, economic calendar data shows that market sentiment may be influenced by German Consumer Confidence and UK Retail Sales figures due on July 24, 2026, which will provide insight into global purchasing power for electronics powered by Qualcomm's hardware.