Filing Flows › Qualcomm (QCOM) › Q3 FY26 › vs Q2 FY26
Qualcomm (QCOM) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Qualcomm's revenue fell $652M (-6%) from $10.6B in Q2 FY26 to $9.9B in Q3 FY26. Operating margin 16.3% against 21.8% (-5.4 pts).
Qualcomm, Q3 FY26: revenue $9.9B (-4% year over year), operating margin 16.3%, net earnings $2.0B, operating cash flow $991M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 16.3% | 21.8% | -5.4 pts |
| Net margin | 20.1% | 69.5% | -49.4 pts |
| Free cash flow margin | 5.0% | 18.1% | -13.1 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $9.9B | $10.6B | −$652M | -6% |
| Other income, net | $836M | −$77.0M | $913M | — |
| Operating profit | $1.6B | $2.3B | −$683M | -30% |
| Costs & expenses | $8.3B | $8.3B | $31.0M | +0.4% |
| Pre-tax earnings | $2.5B | $2.2B | $230M | +10% |
| Cost of revenue | $4.7B | $4.9B | −$230M | -5% |
| Research & development | $2.6B | $2.5B | $144M | +6% |
| SG&A | $976M | $898M | $78.0M | +9% |
| Other operating costs | $68.0M | $29.0M | $39.0M | +134% |
| Net earnings | $2.0B | $7.4B | −$5.4B | -73% |
| Income tax | $460M | −$5.1B | $5.6B | — |
| Operating cash sources | $3.2B | $8.6B | −$5.4B | -63% |
| Depreciation & amortization | $396M | $413M | −$17.0M | -4% |
| Share-based compensation | $830M | $861M | −$31.0M | -4% |
| Working capital & other | $2.2B | $6.2B | −$4.0B | -64% |
| Operating cash flow | $991M | $2.4B | −$1.5B | -60% |
| Free cash flow (OCF − capex) | $495M | $1.9B | −$1.4B | -74% |
| Capital expenditures | $496M | $533M | −$37.0M | -7% |
Questions
How much did Qualcomm's revenue grow quarter over quarter in Q3 FY26?
Qualcomm's revenue fell $652M (-6%) from $10.6B in Q2 FY26 to $9.9B in Q3 FY26. Operating margin 16.3% against 21.8% (-5.4 pts).