Qualcomm Reports Strong Q1 Results, Beats Estimates With Robust Chip Demand

Benzinga

Qualcomm reported fiscal first-quarter earnings and revenue that surpassed estimates and provided strong guidance. Qualcomm projects higher-than-expected revenue and adjusted earnings for the March quarter, surpassing Wall Street estimates at the midpoint of its forecast range. Qualcomm's major chip markets expanded, with its QCT division rising 20%. The company's mobile handset market saw higher-than-expected annual growth, exceeding analyst projections. Qualcomm experienced strong demand in China for high-end smartphones and gained from Samsung’s exclusive use of its processors in the latest Galaxy device. The company expects handset revenue to increase further in 2025.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Qualcomm reported fiscal first quarter earnings and revenue that surpassed

00:06estimates and provided strong guidance.

00:08Qualcomm projects higher than expected revenue and adjusted earnings from the March quarter,

00:14surpassing Wall Street's estimates at the midpoint of its forecast range.

00:18Qualcomm's major chip market expanded with its QCT division rising 20%.

00:24The company's mobile handset market saw higher than expected annual growth,

00:28exceeding analysts' projections.

00:29Qualcomm experienced strong demand in China for high-end smartphones and

00:33gained from Samsung's exclusive use of its predecessor in the latest Galaxy device.

00:39The company expects headsets revenue to increase further in 2025.

Category

Transcript

Comments

Recommended