Qualcomm, Inc. (NASDAQ: QCOM) on Wednesday reported higher third-quarter revenue and profit that surpassed the market’s expectations.
Revenues of the company, a leading manufacturer and supplier of digital wireless communication products, increased to $10.37 billion in the third quarter from $9.39 billion in Q3 2024. Revenue from the CDMA Technologies division grew 11%, and Technology Licensing revenue rose 4% YoY.
Net income was $2.67 billion or $2.43 per share in Q3, compared to $2.13 billion or $1.88 per share in the corresponding quarter last year. Adjusted profit increased to $2.77 per share in the June quarter from $2.33 per share last year.
“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. 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,” said Cristiano Amon, CEO of Qualcomm.
