Qualcomm Automotive Revenue Surges 61% to Record $1.6 Billion

EarningsAnalyst
โดย 24/7 Wall St.·Read original
Summary · why it matters

Qualcomm's automotive revenue surged 61% year over year to a record $1.59 billion in its fiscal third quarter, even as the stock dropped 11% after earnings. Total revenue of $9.95 billion beat consensus by 2.84%, but non-GAAP EPS of $2.21 missed by a penny, and handset revenue fell 20% to $5.09 billion. CEO Cristiano Amon targets $40 billion in non-handset revenue by fiscal 2029, with growth accelerating to more than 60% in fiscal 2027. The company was named BMW Group's lead compute silicon provider for next-generation digital cockpit and automated driving systems, and it closed the acquisition of Modular Inc. 24/7 Wall St. maintains a buy rating and a $242.62 price target on Qualcomm shares, implying 55.85% upside from the current price of $155.68.

Impact on stocks 6

Semiconductors▲ · 2 stocks
Qualcomm Incorporated
QCOM
▲ PositiveDemandCapitalrelevance

Automotive revenue surged 61% to record $1.59B, and BMW named Qualcomm lead compute silicon provider.

Artificial Intelligence▲ · 2 stocks
Consumer Discretionary▲ · 1 stocks
Cybersecurity & Digital Trust▲ · 1 stocks

Theme Impact 3

Off-coverage companies 1

ModularPrivate▲ Positive
Capitalrelevance

Qualcomm closed the acquisition of Modular Inc., indicating strategic value.

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