Overview
- Qualcomm posted record fiscal Q1 revenue of $12.25 billion and adjusted EPS of $3.50, both slightly above consensus estimates.
- For Q2, the company guided revenue to $10.2–$11.0 billion and EPS to $2.45–$2.65, below Wall Street forecasts due to limited DRAM availability.
- Executives said large data‑center orders are tightening memory supply for phones, prompting OEMs to cut build plans and inventory and to prioritize premium tiers.
- Shares fell about 7% in after‑hours trading following the guidance, as some firms trimmed price targets while Bernstein maintained an Outperform rating at $200.
- Handset revenue reached $7.82 billion, automotive rose to $1.10 billion and IoT to $1.69 billion, and Qualcomm pointed to longer‑term AI inference efforts including the reported HUMAIN engagement.