Qualcomm's handset division revenue dropped 26% to $5.14 billion, pulling total chip segment sales down 8% to $9.02 billion. The company expects non-handset revenues to eventually make up for lost Apple business, projecting first-quarter total revenue between $10.4 billion and $11.2 billion. Looking further ahead, diversification efforts include targeting $15 billion in annual data-center revenue by fiscal 2029.
Key points
Qualcomm's first-quarter fiscal 2027 financial guidance completely excludes future sales…: Qualcomm's first-quarter fiscal 2027 financial guidance completely excludes future sales to Apple as the phone maker develops internal modems.
First-quarter adjusted earnings guidance of $2.25 per share at the midpoint slightly trai…: First-quarter adjusted earnings guidance of $2.25 per share at the midpoint slightly trailed analyst expectations of $2.27 per share.
A multi-year 5G agreement with SpaceX will supply radio units, baseband equipment, and so…: A multi-year 5G agreement with SpaceX will supply radio units, baseband equipment, and software for the Starlink Mobile network starting in 2027.
Sources checked by our analysis pipeline: 1
Nov 4 : Qualcomm on Wednesday fell short of Wall Street estimates for fourth-quarter smartphone chip sales on sluggish demand and declining Apple-related revenue, sending its shares down more than 6 per cent in extended trading.
A better-than-expected revenue forecast for its nascent data-center segment failed to enthuse investors as they focused on the sharp decline in the company's core business.
Global smartphone shipments fell 20 per cent in the September quarter to a 14-year low, according to Counterpoint Research, as surging memory chip costs drove up device prices amid booming demand from AI data centers.
Revenue from Qualcomm's handset unit, which makes chips for smartphones, fell 26 per cent to $5.14 billion in the fourth quarter, dragging the chip segment's revenue down 8 per cent to $9.02 billion.
Analysts polled by Visible Alpha expected handset revenue of $5.25 billion.
In an interview with Reuters, Qualcomm CEO Cristiano Amon said sales of Android handsets had bottomed out and were ticking upward again.
"Unlike some other companies, we called this memory thing early, and we prepared for it," Amon said. "We're…
The Australian dessert brand's latest expansion into Katong blends its frozen yoghurt offerings with Singapore's traditional culinary culture through a high-profile heritage collaboration. Guests can experience localized flavours alongside unique artistic store features designed to reflect the neighbourhood's historic identity. This site broadens the company's retail presence while spotlighting partnerships with homegrown culinary and creative talents.
A steep escalation in operational costs weighed heavily on the pharmaceutical major's bottom line during the second quarter, even as overall business demand remained healthy. Robust top-line growth was sustained through double-digit gains in key domestic markets alongside considerable North American contributions. The performance highlights how expanding expenses can cut into earnings despite strong core commercial activity across geographic segments.
Strong quarterly demand drove substantial business expansion for the company, significantly outpacing Wall Street's previous expectations. Financial momentum is poised to continue as internal leadership anticipates the upcoming period will exceed current market projections. Consequently, investors responded aggressively to the combined earnings beat and robust forecast, triggering a major stock rally.