04:35 PM EST, 02/05/2025 (MT Newswires) -- Qualcomm's ( QCOM ) fiscal first-quarter results grew more than expected as revenue reached a record level, buoyed by its chips supplied to the automotive and smartphone markets.

Adjusted per-share earnings increased to $3.41 from $2.75 a year earlier, versus the FactSet-polled consensus of $2.96. Revenue rose 18% year-over-year to $11.67 billion for the three months through Dec. 29, topping Wall Street's $10.91 billion view.

Sales at Qualcomm's ( QCOM ) CDMA technologies division, which represents the semiconductor business, gained 20% to $10.08 billion, driven by a 61% surge in auto to $961 million. Handset sales advanced 13% to $7.57 billion, while Internet of Things gained 36%, the company said.

The technology licensing unit's sales rose 5% to $1.54 billion.

Qualcomm ( QCOM ) expects second-quarter adjusted EPS of $2.70 to $2.90 on revenue between $10.2 billion and $11 billion. The consensus is for normalized EPS of $2.69 and sales of $10.34 billion.