Qualcomm Reports Mixed Quarter, Low Guidance

Qualcomm Inc. reported fiscal Q1 revenue of $12.25 billion for the quarter ended December 29, 2025, a 5% year-over-year increase that narrowly beat Wall Street's $12.21 billion estimate, but its disappointing fiscal Q2 guidance sent shares down more than 9% pre-market. Management blamed persistent DRAM and NAND memory shortages likely to last through at least the first half of 2026, projecting Q2 revenue about 5–7% below analyst expectations.