Qualcomm slightly beats Q1 revenue expectations

Overview

• Semiconductor firm's fiscal Q1 revenue slightly beat analysts' expectations

• Adjusted EPS beat analysts' expectations

• Company completed Alphawave Semi acquisition, expanding data center capabilities

Outlook

• Qualcomm expects Q2 FY26 revenue between $10.2 bln and $11.0 bln

• Company anticipates Q2 FY26 GAAP EPS of $1.69 to $1.89

• Qualcomm forecasts Q2 FY26 non-GAAP EPS of $2.45 to $2.65

Result Drivers

• RECORD REVENUES - Qualcomm achieved record total company and QCT revenues in Q1

• AUTOMOTIVE GROWTH - QCT Automotive revenues exceeded $1 bln for the second consecutive quarter

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 20 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for Qualcomm Inc is $189.56, about 28.8% above its February 3 closing price of $147.18

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 15 three months ago

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