Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones

on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter.Here's how it did versus LSEG consensus estimates for the quarter ending in March:: $9.39 billion adjusted vs. $9.34 billion expected

Qualcomm said it expected between $8.8 billion and $9.6 billion in sales in the current quarter, higher than Wall Street expectations of $9.05 billion. Analysts were looking for earnings guidance of $2.17 per share, versus the company's forecast of between $2.15 and $2.35. Handset sales rose 1% year-over-year to $6.18 billion, signaling that the smartphone market may be recovering after a few years of post-covid slumping. Qualcomm called out strong demand for "premium tier" smartphones that require the most advanced chips.

Those three business lines are reported together as QCT, the company's chip business, which saw a 1% year-over-year sales increase to $8.03 billion. Qualcomm also highlighted

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Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphonesQualcomm called out strong demand for “premium tier” smartphones that require the most advanced chips.
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