Qualcomm reported fourth quarter non-GAAP revenue of $10.44 billion and non-GAAP EPS of $2.17, falling short of analyst estimates as a significant contraction in the handset market offset record performance in the automotive division. Despite the quarterly miss, management highlighted a structural shift toward non-smartphone revenue, forecasting that these segments will grow by more than 60% in fiscal 2027.
Key Highlights
- QCT Automotive revenue reached a record $1.99 billion, surging 89% year-over-year and substantially beating consensus expectations.
- Handset revenue fell 26% year-over-year to $5.14 billion, reflecting continued volatility in the core smartphone chipset business.
- The company renewed long-term licensing agreements with major OEMs, including Apple, Huawei, and Transsion, securing high-margin royalty streams.
- Management reiterated a $5 billion revenue target for the Data Center segment by fiscal 2027, supported by a new AI collaboration with Amazon.