Qualcomm: Q1 EPS up 24%

(CercleFinance.com) - Qualcomm has reported a 24% increase in adjusted net income (non-GAAP) to $3.
83bn for Q1, giving EPS of $3.41, well above the upper limit of its target range set three months ago. NB: pmt -5%.

Still on an adjusted basis, the chipmaker saw its pre-tax profit rise by 23% to $4.43bn, on revenues up 18% to nearly $11.7bn, notably with a 1% jump in automotive revenues within the QCT segment.

For the current quarter, Qualcomm anticipates adjusted EPS of $2.70 to $2.90, as well as adjusted revenues of $10.2bn to $11bn. It also confirms its target of $22bn in revenues (excluding mobiles) by FY 2029.


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