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00:02Qualcomm reported fourth quarter adjusted earnings of $2.17 per share,
00:08beating Wall Street expectations of $2.16, according to Benzinga.
00:13Revenue fell 8% year-over-year to $10.32 billion, topping estimates of $10.11 billion.
00:21Handset revenue dropped 26% to $5.137 billion,
00:26while automotive revenue surged 89% to $1.99 billion, setting a quarterly record.
00:34Internet of Things revenue rose 4% to $1.888 billion.
00:40CEO Cristiano Amon said the company expects non-handset revenue to grow more than 60%
00:46year-over-year in fiscal 2027 and reaffirmed its $5 billion data center revenue target.
00:52The company also renewed long-term licensing agreements with Apple, Huawei, and Transient.
00:59Qualcomm announced a multi-generational product collaboration with Amazon for AI data centers
01:04and a partnership with SpaceX's Starlink.
01:07For all things money, visit Benzinga.com.
