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Qualcomm results, forecast top expectations as AI drives smartphone sales
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Qualcomm results, forecast top expectations as AI drives smartphone sales
Feb 5, 2025 1:29 PM

Feb 5 (Reuters) - Qualcomm ( QCOM ) on Wednesday

forecast sales and profits above analyst expectations as

artificial intelligence features helped drive sales of the

smartphones, laptops and other devices powered by its chips.

For its current fiscal second quarter, Qualcomm ( QCOM ) forecast

sales range with a midpoint of $10.75 billion and adjusted

profits of $2.80 per share, both above analyst estimates of

sales of $10.34 billion and adjusted profit $2.69 per share,

according to data from LSEG.

Qualcomm ( QCOM ) reported sales of $11.67 billion and adjusted

profits of $3.41 per share for its fiscal first quarter ended

December 29. Both were well above analyst estimates of $10.93

billion for sales and adjusted profits of $2.96 per share,

according to data from LSEG.

Qualcomm ( QCOM ), the world's biggest supplier of modem chips that

connect smartphones to wireless data networks, said last month

it had won a major new deal Samsung Electronics ( SSNLF ) to

provide chips for the South Korean firm's flagship mobile phones

around the world. San Diego, California-based Qualcomm ( QCOM ) is also

working with Microsoft ( MSFT ) and computer manufacturers to

offer a range of laptops and PCs based on its chips.

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