Qualcomm Revenue Declines 8% Amid Smartphone Market Weakness
· Business · Economic Times, Times of India
Qualcomm reported an 8% year-on-year revenue decline to $10.32 billion for the fourth quarter, driven by a 26% drop in its handset chip business. The company faced challenges from sluggish smartphone demand and higher memory costs, though adjusted earnings of $2.17 per share slightly exceeded analyst expectations. Conversely, the automotive business grew by 89% to a record $1.99 billion, signalling progress in the firm's diversification strategy. Qualcomm is now accelerating its expansion into AI data centres and expects non-handset revenue to grow significantly in fiscal 2027.
Why it matters
Qualcomm's shift toward automotive and data centre sectors is critical as it attempts to mitigate the volatility of the global smartphone market.
Read the original report — Economic Times
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