Qualcomm reported record quarterly revenue of $11.7 billion, driven by strong demand for its handset, automotive, and IoT (Internet of Things) solutions. The company continues to expand its presence beyond mobile processors, focusing on AI-powered computing, automotive platforms, and IoT connectivity.
• AI-Powered Handsets and Compute
• Record QCT handset revenue of $7.57 billion, up 13% year-over-year, reflecting strong demand for AI-enhanced mobile processors.
• Qualcomm’s latest Snapdragon chipsets power flagship smartphones with on-device AI processing, improving efficiency and performance.
• The expansion of AI capabilities in PCs is creating new opportunities, with Qualcomm’s Snapdragon X series positioning itself as a leading AI PC platform.
• Automotive Growth Accelerates
• QCT Automotive revenue hit a record $961 million, marking its sixth consecutive quarter of record revenue, up 61% year-over-year.
• Qualcomm’s Snapdragon Digital Chassis is driving growth in autonomous driving, in-car connectivity, and digital cockpit solutions.
• Partnerships with BMW, Mercedes, Stellantis, and other global automakers are fueling adoption of Qualcomm’s AI-powered automotive platforms.
• IoT Expansion in Smart Devices and Industrial Applications
• QCT IoT revenue surged 36% year-over-year to $1.55 billion, as demand grows for smart home, industrial automation, and edge AI solutions.
• Qualcomm’s AI-powered IoT solutions are enabling smarter connected devices across healthcare, security, and smart cities.
“We are very pleased to have achieved quarterly revenue records, which reflect the strength of our
technology, product roadmap and end-customer demand,” said Cristiano Amon, CEO of Qualcomm
Incorporated. “We are delivering growth across our diversification initiatives and remain committed to
executing on our fiscal 2029 targets to achieve $22 billion of non-handset revenues.”
Financial Highlights
Qualcomm achieved strong revenue and earnings growth across all segments:
• Total revenue reached $11.7 billion, a 17% year-over-year increase.
• QCT revenue surpassed $10 billion for the first time, with growth across handsets, automotive, and IoT.
• QCT segment earnings before taxes (EBT) increased 25% year-over-year, reaching $3.25 billion.
• QTL (licensing business) revenue rose to $1.54 billion, contributing 75% EBT margin.
• GAAP net income grew 15% to $3.18 billion, with GAAP diluted EPS of $2.83.
• Non-GAAP net income increased 24% to $3.83 billion, with record Non-GAAP EPS of $3.41.
• $2.7 billion returned to shareholders, including $942 million in dividends and $1.8 billion in share buybacks.
