Qualcomm announced robust results for its fiscal third quarter of 2025, with GAAP revenues increasing to $10.36 billion from $9.39 billion in the prior year, although this missed the consensus estimate of $10.42 billion. Net income on a GAAP basis improved to $2.67 billion, or $2.43 per share, from $2.13 billion, or $1.88 per share, in the year-ago quarter. Non-GAAP net income was $3.04 billion, or $2.77 per share, beating the Zacks Consensus Estimate by $0.07.
The company experienced record automotive revenues, which rose 21% to $984 million, fueled by strong momentum in the Snapdragon Digital Chassis platform and increased content in new vehicle launches. Handset revenues also jumped 7% to $6.33 billion due to healthy demand for premium Android handsets utilizing the Snapdragon 8 Elite platform. IoT revenues grew 24% to $1.68 billion, driven by demand for the Snapdragon AR1 chipset for AI smart glasses.
Qualcomm's CDMA Technologies (QCT) segment reported revenues of $8.99 billion, up from $8.07 billion a year ago. The Qualcomm Technology Licensing (QTL) segment's revenues totaled $1.32 billion, a 4% year-over-year increase. For the fourth quarter of fiscal 2025, Qualcomm projects GAAP revenues between $10.3 billion and $11.1 billion, with non-GAAP earnings per share expected to be $2.75 to $2.95. QTL revenues are anticipated to be between $1.25 billion and $1.45 billion, and QCT revenues are forecast to be between $9 billion and $9.6 billion, with a 5% sequential growth in handset revenues and relatively flat IoT and automotive revenues.
