Quarterly ResultApr 29, 2026, 04:32 PM
QCOM Q2 Net Income +162% to $7.37B; $20B Buyback; Alphawave Acquired
AI Summary
QUALCOMM INC/DE reported a significant increase in Q2 net income, rising 162% to $7.37 billion, primarily due to a $5.7 billion income tax benefit from the release of a valuation allowance on federal deferred tax assets. The company also announced a new $20.0 billion stock repurchase program and increased its quarterly dividend to $0.92 per share. Strategically, Qualcomm completed the acquisition of Alphawave IP Group for $2.3 billion to accelerate its expansion into data centers, alongside other smaller acquisitions.
Key Highlights
- New $20.0B stock repurchase program authorized, with $21.9B remaining.
- Quarterly dividend increased from $0.89 to $0.92 per share.
- Q2 Net income surged 162% to $7.37B, driven by a $5.7B income tax benefit.
- Q2 Diluted EPS rose to $6.88 from $2.52 (+173%).
- Acquired Alphawave IP Group for $2.3B to expand into data centers.
- Six-month total revenues slightly up 0.9% to $22.85B.
- Six-month QCT Automotive revenue grew 26.4% to $2.43B.
- Six-month QCT Handset revenue decreased 4.5% to $13.85B.