Overview
- Fiscal Q1 revenue rose 5% to a record $12.25 billion with adjusted EPS of $3.50, topping LSEG estimates.
- Q2 guidance calls for $10.2 billion to $11.0 billion in revenue and $2.45 to $2.65 in adjusted EPS, below Wall Street forecasts.
- Executives said smartphone customers are curbing builds and inventories because memory makers are prioritizing AI datacenter orders, tightening DRAM supply.
- Shares fell roughly 7% in after-hours trading as investors reacted to the weaker near-term outlook despite growth in automotive (+15% to $1.1 billion) and IoT (+9% to $1.69 billion).
- Qualcomm highlighted diversification efforts including AI inference silicon with early shipments to Humane, and it returned $3.6 billion to shareholders via $2.6 billion in buybacks and a $0.89-per-share dividend.