Core Viewpoint - Qualcomm reported quarterly earnings of $2.77 per share, exceeding the Zacks Consensus Estimate of $2.70 per share, and showing an increase from $2.33 per share a year ago, indicating a positive earnings surprise of +2.59% [1][2] Financial Performance - The company achieved revenues of $10.37 billion for the quarter ended June 2025, which was slightly below the Zacks Consensus Estimate by 0.15%, but an increase from $9.39 billion year-over-year [2] - Over the last four quarters, Qualcomm has surpassed consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance - Qualcomm shares have increased approximately 5.5% since the beginning of the year, while the S&P 500 has gained 8.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.82 on revenues of $10.57 billion, and for the current fiscal year, it is $11.75 on revenues of $43.65 billion [7] - The outlook for the Electronics - Semiconductors industry is positive, ranking in the top 28% of over 250 Zacks industries, suggesting potential for outperformance [8]

Financial Data and Key Metrics Changes - In fiscal Q3, the company reported revenues of $10.4 billion and non-GAAP earnings per share of $2.77, which was near the high end of the guidance range [5][21] - The chipset business generated revenues of $9 billion, reflecting a year-over-year growth of 11-22% [5][22] - The licensing business revenues were $1.3 billion with an EBT margin of 71%, above the midpoint of guidance [21] Business Line Data and Key Metrics Changes - Handset revenues increased by 7% year-over-year to $6.3 billion, driven by strong demand for premium tier handsets enabled by the Snapdragon 8 Elite platform [22] - IoT revenues grew 24% year-over-year to $1.7 billion, attributed to increased demand for the Snapdragon AR1 chipset [22] - Automotive revenues reached $984 million, marking a 21% year-over-year increase, driven by content growth in new vehicle launches [22] Market Data and Key Metrics Changes - The company is on track to meet its fiscal 2029 target for combined automotive and IoT revenues of $22 billion, forecasting over 15% year-over-year growth in total QCT non-Apple revenues for fiscal 2025 [6][25] - Snapdragon-based PCs accounted for approximately 9% of Windows laptops sold above the $600 price tier in retail U.S. [8] Company Strategy and Development Direction - The company is focused on expanding its presence in AI, automotive, and IoT markets, with a strong emphasis on partnerships and product innovation [6][12] - The acquisition of AlphaWave IP Group is expected to enhance the company's capabilities in data centers and AI, with revenues anticipated to begin in fiscal 2028 [15][16] - The company aims to maximize shareholder returns while executing across a broad range of growth and diversification opportunities [25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Android ecosystem's leadership in AI and the potential for personal AI devices to reshape the mobile industry [7][18] - The company remains confident in its ability to manage margins despite the decline in Apple revenues, with a target of maintaining close to 30% margin [72] Other Important Information - The company returned $3.8 billion to shareholders, including $2.8 billion in stock repurchases and $967 million in dividends [23] - The upcoming Snapdragon Summit event is expected to provide further insights into the company's technology leadership and new product launches [25] Q&A Session Summary Question: Can you speak to the drivers of handset market growth despite lower Apple share? - Management indicated that the growth is driven by new product launches and strong demand, with no evidence of pull-ins [29] Question: Any details on the data center business and hyperscale engagement? - Management stated they are in advanced discussions but could not disclose further details [32] Question: How do you envision AlphaWave integrating into your portfolio? - Management highlighted the focus on building products for general-purpose CPUs and inferencing clusters, leveraging AlphaWave's IP for connectivity [36][38] Question: What are the implications of the decline in Apple on margins? - Management expressed confidence in maintaining margin targets, citing growth opportunities in automotive and IoT that exceed the scale of Apple revenue [72] Question: How do you see growth trends in China? - Management noted strong relationships with Chinese OEMs, including a multi-year agreement with Xiaomi, indicating sustained business growth in the region [65][70]

Financial Data and Key Metrics Changes - In fiscal Q3, the company reported revenues of $10.4 billion and non-GAAP earnings per share of $2.77, which was near the high end of the guidance range [5][21] - The licensing business generated revenues of $1.3 billion, while the chipset business delivered revenues of $9 billion, reflecting a year-over-year growth of 11-22% respectively [6][22] - The company returned $3.8 billion to shareholders, including $2.8 billion in stock repurchases and $967 million in dividends [23] Business Line Data and Key Metrics Changes - Handset revenues increased by 7% year-over-year to $6.3 billion, driven by strong demand for premium tier handsets enabled by the Snapdragon 8 Elite platform [22] - IoT revenues grew by 24% year-over-year to $1.7 billion, attributed to increased demand for the Snapdragon AR1 chipset [22] - Automotive revenues reached $984 million, marking a 21% year-over-year increase, driven by content growth in new vehicle launches [22] Market Data and Key Metrics Changes - The company is on track to meet its fiscal 2029 target for combined automotive and IoT revenues of $22 billion, with forecasts indicating a second consecutive year of over 15% year-over-year growth in total QCT non-Apple revenues [6][25] - Snapdragon-based PCs accounted for approximately 9% of Windows laptops sold above the $600 price tier in retail U.S. [8] Company Strategy and Development Direction - The company is focused on expanding its presence in AI, automotive, and IoT markets, with a strong emphasis on diversification and growth strategies [6][26] - The acquisition of AlphaWave IP Group is expected to enhance the company's capabilities in data centers and AI, with revenues anticipated to begin in fiscal 2028 [14][15] - The company aims to leverage its technology leadership in mobile, XR, and wearables to become the preferred solution provider in the emerging personal AI devices market [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Android ecosystem's leadership in AI and the ongoing demand for Snapdragon platforms across various sectors [7][17] - The company remains focused on maximizing shareholder returns while navigating global trade volatility and strengthening customer relationships [26] - Management highlighted the potential for significant growth in the robotics and autonomous sectors, estimating a total addressable market of $1 trillion over the next decade [19][20] Other Important Information - The company is engaged in advanced discussions with a leading hyperscaler regarding its data center strategy, with a focus on ARM-compatible CPUs and AI inference solutions [31][40] - The Snapdragon digital chassis solutions are gaining traction across the automotive ecosystem, with 12 new designs launched during the quarter [10] Q&A Session Summary Question: Can you speak to the drivers of handset market growth despite lower Apple share? - Management indicated that the growth is driven by new product launches and strong demand for upcoming devices, with no evidence of pull-ins [30] Question: What details can you provide on the data center engagement? - Management stated they are in advanced discussions but could not disclose specifics, emphasizing the relevance of their IP for the data center market [32][33] Question: How do you envision AlphaWave integrating into your portfolio? - Management highlighted the importance of AlphaWave's IP for building custom SoC products and enhancing connectivity capabilities [36][39] Question: What are the implications of the decline in Apple on margins? - Management expressed confidence in maintaining a healthy margin profile, with growth opportunities in automotive and IoT expected to offset any decline from Apple [76]

Financial Performance - Revenues increased by 10% year-over-year to $10.4 billion[10] - Non-GAAP EPS increased by 19% year-over-year to $2.77[10] - QCT revenues increased by 11% year-over-year to $9.0 billion[10] - QCT EBT increased by 22% year-over-year to $2.7 billion[10] - Combined QCT Automotive and IoT revenues increased by 23% year-over-year to $2.7 billion[10] - QTL revenues increased by 4% year-over-year to $1.318 billion[14] with an EBT margin of 71%[13] Business Highlights - QCT Non-Apple YTD revenues increased by more than 15% year-over-year[10] - The company returned $3.8 billion to stockholders, including $2.8 billion in share repurchases and $1.0 billion in dividends[13] - Multiple new PC devices using Snapdragon® X Series platforms launched, with >100 designs expected to be commercialized through 2026[10] - An agreement was reached to acquire Alphawave at an implied enterprise value of ~$2.4 billion[10, 33]

Financial Performance - Revenues for Q3 fiscal 2025 were $10.4 billion, a 10% increase year-over-year, with net income of $2.7 billion, up 25% from the previous year[71]. - Total revenues for the first nine months of fiscal 2025 reached $33.0 billion, an increase of $4.3 billion compared to the same period last year[76]. - For the third quarter of fiscal 2025, total revenues reached $8.993 billion, a 11.5% increase from $8.069 billion in the same period last year[94]. - QCT segment revenues increased by 11% to $8.9 billion, driven by higher handsets, IoT, and automotive revenues[74]. - QTL segment revenues rose by 4% to $1.5 billion, primarily due to increased sales of 3G/4G/5G multimode products[74]. Segment Performance - Handset revenues were $6.328 billion, up from $5.899 billion, reflecting a $429 million increase[94]. - Automotive segment revenues increased to $984 million from $811 million, a growth of $173 million[94]. - IoT revenues rose to $1.681 billion, compared to $1.359 billion, marking a $322 million increase[94]. - QCT revenues for the third quarter were $8.8 billion, up from $7.9 billion, driven by higher average selling prices and increased shipments[97]. - QTL licensing revenues increased to $1.318 billion from $1.273 billion, a rise of $45 million[102]. Expenses and Margins - Gross margin percentage remained flat at 56% for Q3 fiscal 2025[79]. - Research and development expenses for Q3 fiscal 2025 were $2.2 billion, a decrease of $33 million compared to the previous year[82]. - Selling, general and administrative expenses increased by $107 million to $771 million in Q3 fiscal 2025, primarily due to higher sales and marketing expenses[85]. - Interest expense remained unchanged at $168 million for Q3 fiscal 2025[87]. Cash Flow and Capital Management - Net cash provided by operating activities for the first nine months of fiscal 2025 was $10.016 billion, an increase of $461 million compared to $9.555 billion in the same period of fiscal 2024[114]. - The company repurchased 41 million shares of common stock, resulting in $6.3 billion in payments during the first nine months of fiscal 2025[114]. - The company paid $2.8 billion in cash dividends during the first nine months of fiscal 2025[114]. - The company anticipates that its cash, cash equivalents, and marketable securities will satisfy working and other capital requirements for at least the next 12 months[120]. - The company plans to continue stock repurchases at an increased level compared to the prior year through the remainder of fiscal 2025[118]. Tax and Regulatory Considerations - The effective tax rate for fiscal 2025 is estimated at 11%, lower than the U.S. federal statutory rate of 21%[90]. - The company expects a potential adverse impact on total provision for income taxes due to changes in tax legislation, including a corporate alternative minimum tax of 15% starting in fiscal 2026[92]. - Regulatory investigations and potential litigation could adversely affect the company's business and financial condition[119]. Future Outlook - The company anticipates continued growth driven by advancements in technology and market expansion strategies[69]. - The company anticipates continued growth in 5G technology adoption across various industries, including automotive and IoT, as a key driver for future business[107]. - The company expects a favorable effect on cash flows from operations due to the reinstatement of deducting domestic research and development expenditures as incurred starting in fiscal 2026[115]. Marketable Securities - Net gains on marketable securities in Q3 fiscal 2025 were primarily driven by initial public offerings of certain QSI equity investments[89]. - QSI segment EBT increased significantly due to higher net gains on marketable securities from IPOs of equity investments[105]. Debt Management - The company repaid $1.4 billion of unsecured fixed-rate notes that matured in May 2025 and issued $1.5 billion of new unsecured fixed-rate notes[117]. - Interest rate swaps with an aggregate notional amount of $1.5 billion were entered into to convert fixed-rate payments into floating-rate payments, mitigating interest rate risk[122].

FOR IMMEDIATE RELEASE Exhibit 99.1 Qualcomm Contact: Mauricio Lopez-Hodoyan Vice President, Investor Relations Phone: 1-858-658-4813 | e-mail: ir@qualcomm.com Qualcomm Announces Third Quarter Fiscal 2025 Results Revenues: $10.4 billion GAAP EPS: $2.43, Non-GAAP EPS: $2.77 —QCT Diversification: Combined Automotive and IoT Revenues Grew 23% Year-Over-Year— —QCT Automotive: Record Quarterly Revenues— —On track to meet our accelerated buyback commitment in FY25— SAN DIEGO - July 30, 2025 - Qualcomm Incorporated ...

Core Insights - Franklin Access has launched the RG350, a next-generation 5G RedCap mobile hotspot, certified on AT&T's nationwide 5G network, featuring the Qualcomm Snapdragon® X35 5G Modem-RF System [1][4] Product Features - The RG350 is designed for remote professionals, small teams, and IoT deployments, supporting up to 15 simultaneous connections and includes features like remote device management, VPN pass-through, and MAC address filtering [2] - Key features include dual-band Wi-Fi 6, support for 5G NR-Light (RedCap) and fallback to LTE Cat 4, a 3000mAh rechargeable battery, and a password-protected web admin portal [6] Company Overview - Franklin Access is a leader in integrated wireless solutions, offering advanced 4G LTE and 5G technologies, including mobile hotspots, routers, and mobile device management tools [5]

Group 1 - Qualcomm Inc (NASDAQ:QCOM) is set to announce its fiscal third-quarter earnings results on July 30, with analysts expecting earnings of $2.71, reflecting a 16.3% year-over-year increase, and revenue of $10.34 billion, a 10.1% rise [1] - The post-earnings history for Qualcomm has been poor, with the stock declining in all four next-day sessions over the past year, including an 8.9% drop in May [2] - Options markets are anticipating a 9% price swing for Qualcomm's stock following the earnings announcement, which is higher than the 6.3% average move over the last two years [2] Group 2 - Qualcomm's stock has faced resistance at the $162 level since early June, while support is noted at the $153 level and the 50-day moving average [3] - Year-to-date, Qualcomm's equity has increased by 5.7% [3] - There has been a notable increase in call options activity for Qualcomm over the past 10 weeks, with a 50-day call/put volume ratio of 2.26, ranking higher than 90% of readings from the past year [5]

Core Insights - Qualcomm is set to report its third-quarter fiscal 2025 earnings on July 30, 2025, with revenue and earnings estimates at $10.36 billion and $2.68 per share respectively [1] - The earnings estimate for fiscal 2025 has decreased by 0.26% over the past 60 days, while the estimate for fiscal 2026 has declined by 1.99% [1] Earnings Performance - Qualcomm has a four-quarter earnings surprise average of 6.43%, having beaten estimates in each quarter, with the last reported quarter showing a surprise of 0.71% [3][4] Earnings Predictions - The company has a positive Earnings ESP of +0.60% and a Zacks Rank of 3, indicating a likelihood of an earnings beat for the upcoming quarter [5][6] Recent Developments - Qualcomm launched the Snapdragon 7 Gen 4 Mobile Platform, enhancing AI performance and gaming capabilities, which has gained traction among leading OEMs like HONOR and vivo [7][8] - The company has been selected by e& to enhance digital infrastructure in the UAE and is involved in Saudi Arabia's Vision 2030 initiative, focusing on AI and 5G technologies [9] - Recent acquisitions include Autotalks for V2X technology, MovianAI for generative AI capabilities, and a definitive agreement to acquire Alphawave Semi for approximately $2.4 billion, aimed at enhancing AI capabilities [10][11] Market Performance - Over the past year, Qualcomm's stock has decreased by 10.3%, underperforming the industry growth of 41%, while competitors like Broadcom have seen significant gains [12] Valuation Metrics - Qualcomm's shares are trading at a forward P/E ratio of 13.44, which is lower than the industry average of 34.13 and below its historical mean of 16.97, indicating a relatively cheaper valuation [13] Strategic Focus - The company aims to lead in AI innovation through strategic acquisitions and R&D initiatives, targeting various industries including smartphones and automotive [16] - Qualcomm is experiencing strong demand in the premium handset market but faces margin pressures in the mid-range segment due to competition from low-cost chipmakers [17] Competitive Landscape - Despite challenges, Intel remains a significant competitor in chipset development, particularly in the AI PC sector, which could impact Qualcomm's expansion in that area [18] Long-term Outlook - While current earnings estimates show bearish sentiment, Qualcomm's focus on AI initiatives and diversification of its portfolio positions it well for long-term growth, particularly in high-end smartphones and IoT [20]

Core Insights - Qualcomm is expected to report earnings of $2.71 per share on July 30, 2025, indicating a 15% increase year-over-year, with revenue projected to rise by 10% to $10.3 billion, driven by its CDMA Technologies division [2] - The automotive sector has shown significant growth, with a 59% year-over-year increase in revenue to $959 million, while the IoT segment also experienced a 27% growth to $1.58 billion [3] - Qualcomm's current market capitalization stands at $175 billion, with total revenue of $42 billion over the past twelve months, and operating profits of $12 billion, resulting in a net income of $11 billion [4] Earnings Strategy - Traders can enhance their chances of success by understanding historical earnings patterns and strategically positioning themselves before earnings announcements [5] - Historical data shows that Qualcomm has had 20 earnings data points over the last five years, with positive one-day returns occurring approximately 40% of the time, though this drops to 17% over the last three years [7] - The median positive return from the eight positive instances was 9.7%, while the median negative return from the twelve negative instances was -5.3% [7]