Qualcomm(US:QCOM) 智通财经网·2025-07-31 00:26Core Viewpoint - Qualcomm's latest earnings report reveals weak growth in its smartphone-related business, raising market concerns about potential tariff impacts on the industry [1][6] Financial Performance - For the third fiscal quarter ending June 29, Qualcomm reported revenue of $10.37 billion, a year-over-year increase of 10%, but below analysts' expectations of $10.62 billion [1] - Adjusted net income was $2.67 billion, up 25% year-over-year, with adjusted earnings per share of $2.77, exceeding the average analyst estimate of $2.72 [1] Business Segment Analysis - Qualcomm's CDMA Technology Group generated $8.993 billion in revenue for the third fiscal quarter, an 11% year-over-year increase [2] - Revenue from mobile chip business was $6.328 billion, a 7% year-over-year increase but below the expected $6.48 billion [1][4] - Automotive chip revenue reached $984 million, up 21% year-over-year, while IoT revenue was $1.681 billion, a 24% increase [1][4] - The Technology Licensing Group reported $1.318 billion in revenue, a 4% year-over-year increase [1] Future Outlook - Qualcomm anticipates fourth fiscal quarter revenue between $10.3 billion and $11.1 billion, with analyst expectations averaging $10.6 billion [6] - The CDMA Technology Group is expected to generate revenue between $9 billion and $9.6 billion, while the Technology Licensing Group is projected to earn between $1.25 billion and $1.45 billion [6] Industry Context - The earnings report has intensified concerns regarding the chip industry's recovery prospects, with other manufacturers like Texas Instruments and Intel also providing cautious outlooks [6] - A significant challenge for Qualcomm is Apple's plan to develop its own modem chips for iPhones, which could eventually replace Qualcomm's chips, although this transition has been delayed due to slow development progress by Apple [6]