Qualcomm Q3 Earnings: Double Beat, Auto Revenue Hits Record

Qualcomm Inc QCOM beat analyst estimates for third-quarter financial results, as the company reported after market close Wednesday.

What Happened: Qualcomm reported third-quarter revenue of $10.365 billion, up 10% year-over-year. The revenue beat a Street consensus estimate of $10.333 billion according to data from Benzinga Pro.

The company reported quarterly earnings per share of $2.77, beating a Street consensus estimate of $2.71.

This marks the ninth straight earnings per share beat and eighth straight revenue beat based on data from Benzinga Pro.

QTL revenue was $1.32 billion in the quarter, up 4% year-over-year. QCT revenue was $8.99 billion in the quarter, up 11% year-over-year.

QCT revenue was the following, broken down by segment:

• Handsets: $6.33 billion, +7% year-over-year
• Auto: $984 million, +21% year-over-year
• IoT: $1.68 billion, +24% year-over-year

The company reported that automotive revenue reached a quarterly record.

"Another quarter of strong growth in QCT Automotive and IoT revenues further validates our diversification strategy and confidence in achieving our long-term revenue targets," Qualcomm CEO Cristiano Amon said.

The company bought back $2.8 billion in shares during the quarter.

Read Also: Qualcomm’s Most Powerful Chip Yet Is Here—And It’s Built To Unlock Samsung’s Galaxy AI

What's Next: Qualcomm is guiding for fourth quarter revenue in a range of $10.3 billion to $11.1 billion versus a Street consensus estimate of $10.60 billion.

The company expects QCT revenue to be between $9.0 billion and $9.6 billion, and QTL revenue to be between $1.25 billion and $1.45 billion.

The company is guiding for adjusted fourth-quarter earnings per share of $2.75 to $2.95 versus a Street consensus estimate of $2.82.

"Our leadership in AI processing, high-performance and low-power computing and advanced connectivity positions us to become the industry platform of choice as AI gains scale at the edge," Amon said.

QCOM Price Action: Qualcomm stock has traded between $120.80 and $182.10 over the last 52 weeks, with the stock up 3.7% year-to-date in 2025.

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