Qualcomm Earnings: Non-Smartphone Growth
Here's our initial take on 's (NASDAQ: QCOM) third-quarter financial report.
Qualcomm beat analyst expectations for revenue and earnings in the third quarter of fiscal 2025 thanks in part to strong growth outside of its core smartphone-related business. The company's chips power a sizable fraction of smartphones around the world, but other revenue streams are growing much faster.
Revenue related to smartphones grew by 7% year over year to $6.3 billion. Meanwhile, automotive revenue surged by 21% to $984 million, and Internet of Things revenue jumped 24% to $1.7 billion. The company's next-generation augmented reality platform was recently on display powering Meta Platforms' (NASDAQ: META) AI smart glasses, enabling a 1 billion parameter AI model to be run locally.
Source Fool.com
Qualcomm Inc. Stock
Our community is currently high on Qualcomm Inc. with 40 Buy predictions and 10 Sell predictions.
With a target price of 174 € there is a positive potential of 21.68% for Qualcomm Inc. compared to the current price of 143.0 €.
