Qualcomm Reports Fiscal Q3 Revenue and Earnings Amid Diversification Gains
Qualcomm reported fiscal third-quarter revenue of $9.9 billion and non-GAAP earnings per share (EPS) of $2.21, reaching the high end of its guidance range. The results were driven by record automotive sales and growth in IoT products, which offset challenges in the handset segment due to elevated memory prices, input-cost inflation, and supply constraints. Automotive revenue surged 61% year-over-year to $1.6 billion, while combined non-handset QCT (Qualcomm Technologies) revenue increased by 28%. However, Android-related QCT revenue is expected to decline about 20% year over year due to ongoing cost pressures and demand issues in the smartphone market. Looking ahead, Qualcomm raised its fiscal 2026 automotive revenue target to approximately $7 billion. The company also anticipates custom-silicon data-center revenue ramping up by December quarter with a long-term goal of more than $15 billion in data-center revenue by fiscal 2029.
Topics: Automotive Revenue Growth Earnings Report Handset Demand Pressure Qualcomm