Qualcomm reports handset slump, automotive surge and sets $5 bn data‑center and $10 bn car‑chip targets for FY2027
Qualcomm posted Q3 revenue of $10.3 billion, down 8% year over year, as handset sales fell sharply. Automotive revenue jumped 89% to $1.99 billion, bringing the car‑chip business close to $2 billion in the quarter. CEO Cristiano Amon reiterated a goal of $5 billion in data‑center revenue and $10 billion in car‑chip sales by fiscal 2027, and highlighted Alphabet’s recent $548 million stake in the company.
Why it matters
The company says non‑handset revenue will grow more than 60% in fiscal 2027 to offset the handset decline, making automotive and data‑center growth critical for investors. Alphabet’s stake is presented as a vote of confidence that could support the share price.
Key facts
- 1Q3 revenue was $10.3 billion, an 8% decline from the prior year. observer.com
- 2Automotive revenue rose 89% to $1.99 billion. observer.com
- 3Adjusted earnings were $2.17 per share. observer.com
- 4CEO targets $5 billion in data‑center revenue by fiscal 2027. observer.com
- 5CEO targets $10 billion in car‑chip revenue by fiscal 2027. observer.com
- 6Alphabet disclosed a $548 million stake in Qualcomm. observer.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.