On Wednesday evening, Qualcomm reported a 14% increase in adjusted net income (non-GAAP) to $2.76 billion for its second accounting quarter, with EPS up 13% to $2.44, exceeding the upper limit of its target range.

Also on an adjusted basis, the chipmaker saw its pre-tax profit rise by 11% to 3.17 billion, on revenues up 1% to nearly 9.4 billion, with a third consecutive record quarter for automotive revenues in the QCT segment.

Also pointing to upcoming launches with its Snapdragon X platforms and the prospects opened up by AI, the Californian group anticipates adjusted EPS of between $2.15 and $2.35, as well as revenues of between $8.8 and $9.6 billion for the current quarter.

Copyright (c) 2024 CercleFinance.com. All rights reserved.