Qualcomm Reports Q3 2026 Earnings, Highlights Weak Smartphone Demand and AI Data Center Push

Qualcomm announced its Q3 2026 earnings on August 3, revealing a 4% year-over-year revenue decline to $9.95 billion, primarily due to a 19.6% drop in mobile business revenue as smartphone shipments (excluding Apple) fell by 11%. Despite this, the company saw a 61% increase in automotive revenue and is actively pushing into the AI data center market, signaling a strategic shift amidst market volatility.