Qualcomm Reports Strong Q1 Results, Beats Estimates With Robust Chip Demand

Qualcomm reported fiscal first-quarter earnings and revenue that surpassed estimates and provided strong guidance. Qualcomm projects higher-than-expected revenue and adjusted earnings for the March quarter, surpassing Wall Street estimates at the midpoint of its forecast range. Qualcomm's major chip markets expanded, with its QCT division rising 20%. The company's mobile handset market saw higher-than-expected annual growth, exceeding analyst projections. Qualcomm experienced strong demand in China for high-end smartphones and gained from Samsung’s exclusive use of its processors in the latest Galaxy device. The company expects handset revenue to increase further in 2025.