Qualcomm exceeded expectations with an 18% revenue increase in its first quarter, driven by strong performance in mobile handsets, automotive, and computing. The company also secured new licensing agreements and anticipates continued growth in its core markets, particularly in the smartphone segment.
Qualcomm , a leading semiconductor company, reported a robust increase in revenue for its fiscal first quarter, driven by strong demand in its key markets. The company's total revenue surged 18% year-over-year to $9.92 billion. Qualcomm 's adjusted earnings per share reached $2.83, exceeding analyst estimates of $2.69. The company's performance was fueled by growth across all three major end markets: mobile handsets , automotive, and computing.
The mobile handset segment, Qualcomm's largest market, witnessed a 13% year-over-year increase in sales to $7.57 billion, surpassing analyst expectations of 5% growth. This growth was attributed to strong demand for premium-tier smartphones in China and the adoption of Qualcomm processors in Samsung's latest Galaxy devices. Qualcomm's automotive business continued its impressive trajectory, expanding 61% year-over-year to $961 million. The company's computing segment, which includes sales of Snapdragon Elite chips for Windows laptops and its collaboration with Meta for virtual and augmented reality devices, also experienced growth. Qualcomm's licensing business, QTL, generated $1.54 billion in revenue, driven by new licensing agreements with Chinese smartphone manufacturers and the expansion of 5G and cellular technology adoption. Looking ahead, Qualcomm anticipates continued growth in its core markets, with projected handset revenue growth of 10% in 2025. The company is also investing in artificial intelligence (AI) capabilities, leveraging its chips to run AI models locally instead of in the cloud. This strategic focus on AI is expected to unlock new opportunities and drive future innovation.
Qualcomm Revenue Growth Mobile Handsets Automotive Computing Artificial Intelligence Licensing Business 5G Earnings Report
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