Qualcomm has announced its financial results for the fourth quarter and full fiscal year 2026. Fourth-quarter revenue came in at $10.322 billion, down 8.4% year over year, while net profit reached $1.251 billion—a marked turnaround from a loss in the same period last year. Full-year revenue totaled $43.120 billion, down 2.6% year over year, with net profit hitting $13.628 billion, up 146% year over year.

According to the company, the various headwinds that had previously weighed on its performance have now been absorbed, and its China Android device business has posted sequential recovery. Looking ahead to the first quarter of fiscal 2027, Qualcomm expects revenue across all segments to fall within their respective guidance ranges. For fiscal 2027, non-handset revenue in its chip and semiconductor business is projected to grow more than 60% year over year, and its data center business is expected to begin scaling.

By segment, mobile phone chip revenue declined 26% year over year this quarter, automotive chip revenue jumped 89%, and IoT chip revenue edged up 4%. On the partnership front, Qualcomm has entered into a multi-year collaboration with Amazon to co-develop custom AI data center chips and optical connectivity solutions; it has completed long-term technology license renewals with Apple, Huawei, and Transsion; and its related AI PC products are now available for pre-order.

Qualcomm expects mobile phone revenue to account for less than 50% of total revenue in fiscal 2027, with data center business revenue targeted at $5 billion—a figure projected to climb to $15 billion as new products ramp up. The strong growth in its automotive business is driven by its fifth-generation platform, which is increasing silicon content per vehicle. The company is capitalizing on AI computing demand to drive a transformation of its business mix and offset the revenue gap left by the decline in its mobile phone business.