Qualcomm reported that it earned a net income of $2 billion on revenues of $9.9 billion in the quarter ending June 28, 2026. Those figures represent declines of 25 percent and 4 percent year-over-year (YOY), respectively. But it stumbled in the quarter with revenue of $8.5 billion, a decline of 5 percent YOY. Revenues from handsets declined 20 percent to $5 billion, but revenues from automotive and IoT both grew, with $1.6 billion and $1.8 billion in revenues and growth of 61 and 9 percent, respectively. Qualcomm Technology Licensing (QTL) delivered another $1.3 billion in revenues, down 3 percent YOY.