Qualcomm has reported strong financial results for its second quarter, exceeding expectations with a revenue increase of 15%, amounting to $10.8 billion compared to the previous quarter. The positive outcome reflects substantial growth in the company’s key sectors: handsets, automotive, and Internet of Things (IoT) devices.
Qualcomm’s President and CEO, Cristiano Amon, expressed satisfaction with the strong results, highlighting that Qualcomm CDMA Technologies (QCT) revenue rose by a remarkable 18% year-over-year, reaching $9.5 billion. Notably, both automotive and IoT revenues saw significant year-over-year increases of 59% and 27%, respectively.
This translates to $959 million for automotive and $1.58 billion for IoT. In the handset segment, Qualcomm generated $6.9 billion in revenue, a 12% increase from the previous year.
The company attributed this growth to the traction gained by its latest chipset, the Snapdragon 8 Elite, which is featured in numerous flagship smartphone designs worldwide. Looking forward, Qualcomm anticipates revenue in the range of $9.9 billion to $10.7 billion for the upcoming quarter.
They foresee QLT revenues will remain stable, estimated between $1.15 billion and $1.35 billion. For QCD earnings, which encompass chips for phones, cars, and other products, projections suggest a revenue between $8.7 billion and $9.3 billion, marking a 12% increase compared to the same timeframe last year.
Despite the ongoing uncertainties in the global trade environment, including discussions around tariffs, Qualcomm remains optimistic, noting no significant direct impact on their operations thus far. The company continues to focus on supporting its customers through these dynamic conditions.