QCOM - Earnings call transcript Q1 2025

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm First Quarter Fiscal 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, February 5, 2025. The playback number for today's call is (877) 660-6853. International callers, please dial (201) 612-7415. is to now of Mauricio number the to Investor reservation over call Lopez-Hodoyan, playback XXXXXXXX. I like would turn Relations. The Vice President Mr. go please ahead. Lopez-Hodoyan,

Mauricio Lopez-Hodoyan

Thank will Today's Cristiano you, and afternoon, remarks Amon prepared by call Palkhiwala. Akash and good include everyone.

will addition, session. the In join question-and-answer Rogers Alex

this access release accompany can our Investor slide presentation and You on a Relations our that earnings call website.

being our a replay available on website In today. and addition, will qualcomm.com, this webcast on call later is be

defined website. as Regulation will reconciliations use non-GAAP you During find G, the call can measures and today, we to financial GAAP in the related on our

We the including results or our statements. in statements. Please differ future business our of filings, actual make which materially or will trends results. our events, forward-looking contain including factors important financial differ also projected events could Actual forward-looking forward-looking projections and that SEC cause most those from to or industry refer recent results statements, business XX-K, or to could estimates from materially

And President now and Amon. to Cristiano Officer, comments Chief Executive from Qualcomm's

Cristiano Amon

afternoon, and share record today. delivered us fiscal Thank billion In you, joining for we everyone. of non-GAAP $X.XX. Thanks earnings QX, of $XX.X and per revenues Mauricio, good

achieved QCT, revenues. were first billion, of revenues billion quarter and $XX billion. $X.X for Our $XX.X Licensing business including chipset handset record quarterly revenues record the automotive business

a off to great We're start in fiscal 'XX.

growth exceptional map Our delivering in diversification Snapdragon our for traction with premium-tier the in mobile and history is are across road our initiatives. handsets, we strongest

and year-over-year, quarter, IoT This XX% respectively. automotive and grew XX% revenues year-over-year

billion revenues Day. to on XXXX by non-handset XXXX, are outlined We our to achieving as Investor $XX committed

and of continue and product computing a broad edge range and connectivity, industries. portfolio Our to to differentiated be highly relevant technologies increasingly advanced AI

and able run AI our smaller, are about the DeepSeek-RX and faster, we now very and scale. AI demonstrated more capable the directly particularly innovation models and to next cycle growing optimistic device. as remain of similar also recently other opportunity efficient AI across models edge see the developing business, on We becoming

DeepSeek-RX-Distill its models running Snapdragon-powered were smartphones days within on of and release. fact, PCs few In just a

enter training Qualcomm will continue AI AI and will a device, devices. the which we across of customizable adoption, increasingly purpose-oriented As inference models expect of on for era targeted, inference, range demand platforms making the more we encourage we of This will efficient. development in and cloud, run will more drive and in the that anticipate applications, turn, accessible, while increased

the transition from With drive most for edge, the to AI benefit industry's and well and powerful point. inflection upcoming this efficient positioned processors we're this

In some one AI Galaxy Elite for Elite from X we're globally. series share pleased business. now by powered recently The Snapdragon Samsung and showcasing latest Galaxy launched of best the of for that highlights will integrations AI key handsets, the Galaxy experiences, Gemini. of Snapdragon the Google me the SXX Let smartphones be the X delivers Galaxy

AI are encouraged has which SXX in We by the doubled number nearly features, Galaxy of series. the

to the launch to of expect partnerships Samsung proud Google. the part We're extremely and of long-standing as We with strategic AI transition this and continue smartphones. our strength

the our custom NPU, is today, mobile most X fastest powerful featuring reminder, a As Elite the camera. most performance the GPU industry's CPU, best the Snapdragon platform and incredible powerful

launched pleased end the and for smartphones design Samsung, demand Chinese customer Elite-powered with very to addition traction OEMs. recently flagship In we're strong X by Snapdragon

our XX PCs momentum X win designs designs than development production through in be XXXX. to Snapdragon targeting more Our Series platforms, increased than has category-leading also XXX and commercialized on design or with we're in more

Snapdragon designed the X, platform, compute newest specifically $XXX opportunity. our address addressable in our announced PCs to range, further recently the price we Importantly, expanding

mini by and powered a to the first OEMs, Copilot+ HP including months. developers, experiences. ASUS, powerful X life, look We Lenovo best-in-class features AI computing powered in consumers PCs Dell, Acer, and by Series. X on-device In for form leading Snapdragon battery devices Snapdragon and forward Snapdragon new partnership X performance, from the in ideal PCs desktop multi-day with enterprises. These coming compact factor introduced world's Lenovo, the redefined we AI

NPU-powered applications of number on creativity Snapdragon with XX, the more of natively enterprise Qualcomm to on-device Series. collaboration, apps beginning for to experiences is continued AI optimized X than directly Copilot+ XX bringing it now has Snapdragon also with Microsoft grow for including NPU-optimized running The more. and PCs, Windows productivity, AI versions announced DeepSeek-RX

including as with most Snapdragon well Additionally, the of app XX continues cloud ecosystem popular for storage security new applications the broader apps as now most creators. the XX native expand of to apps popular VPNs, and

the pleased expectations. are which of retail. our According to we're December, in the more early in still Series the than Circana, of share transition with $XXX for U.S. consumer Snapdragon reception has exceeded X to we phase XX% in While Series, Snapdragon than Copilot+ had Windows laptops PCs, greater X

and other adopt remain and Meta a we long-term XR, OEMs expectations are an this We our In Ray-Ban for ecosystems, for MR with the smart and provider key in become point they major to collaborations preferred and VR, beginning AR key gain as Meta inflection wearable playing role continue glasses strategic across The remain growing more at solutions area. partners optimistic scale of features. Snapdragon-based as the that AI AI. they exceed we glasses are to

pleased built Unlocked purchase Google for XR available and we Additionally, and first platform. year this Samsung announced the are by by XR, later powered the device will Snapdragon at that XR the event, Android recent be

allowing and robotics, AI CES, to and our portfolio to inference customer run in positive AI continue appliance generative dedicated enterprise IoT sensitive manufacturing, retail, on including industrial we on-premises verticals, across suite, fine-tuned which and We reception encouraged expand inference computer solutions, of enables are introduced warehousing models commercial. hardware, inference vision and multiple industry the remain by At our enterprise. and data, and logistics, the on-prem products workloads within to and we energy utilities, loads

operationalize to Suite in AI Inference and on-premise cloud. libraries gen applications AI the AI variety and or a easily in and The AI agents, provides applications of deployments ready-to-use tools

for IBM wave platforms include Honeywell, partners Our these others. new and first

also Qualcomm evolution our Aware, the We announced platform. asset next visibility of cloud-based

way highly devices. add device and positioning, Aware services integrated As geolocation, enablement for management to and allows observability indoor connected to a horizontal updates firmware fine platform, cloud-based a Qualcomm insights,

we're momentum Nokia XG product eero, with in X India. Ubiquiti. from wireless access We're In also next-generation fixed and our wins recent Cisco, the America networking, Charter, strong edge for North pleased launches WiFi design in NETGEAR, with seeing and with at operators traction

CES, to and Mobis, Digital leading Hyundai continue use We drive solutions with software-defined partner driver driver Leapmotor, vehicle, in in-cabin for automotive Alps and At our Chassis Alpine, announced industry's in-cabin will new assistance and advanced Mahindra systems, as Snapdragon position systems. the collaborations experiences. which AI-powered, Google, technology connected we Amazon, car to the advanced strengthen assistance AI-powered

X bring now including We including utilize suppliers also the advanced collaborations with Elite Automotive generative Garmin Systems, These platform, with our Cockpit Tier Snapdragon intelligence, expanded SV. partnerships will and Panasonic to several Desay vehicles, platform levels all Snapdragon automakers late safe to and extraordinary its since last the very software-defined of industry We're reception AI, year. enabling Cockpit build to experiences. user with launch Elite to strong pleased

with that user Snapdragon will assistance Driving Ride driver collaboration advanced Hyundai Automated will Snapdragon deliver to software Hyundai one-of-a-kind Flex powers sensors. and cutting-edge bringing with systems, System-on-Chip system a the This Ride new Our solution Stack comprehensive a combine infotainment experience and Mobis advanced future the and Mobis vehicles.

hardware developers of To milestone Chassis software the Snapdragon building Workbench, complete the the Digital development deploy for the cloud-based environment Another workflow software-defined vehicle. applications. Workbench significant test Chassis, complement launch Digital of a and to build provides the was and a and Snapdragon automotive

years, and in recent very the of our execution remain we're revenue pleased with to business positioned QTL we Finally, going 'XX maintain forward. fiscal scale well

agreements key we're extended large and have poised new we agreements long-term with year, X past additional license major shortly the execute to Over OEMs, with OEMs.

the go license fiscal license signed a year. in the long-term also with We Transsion XG signed along recently to XG to last

Our QTL essential of most as licensing extensive progress the reaffirms program cellular patents. industry's

to smartphones, call Qualcomm contract such ARM Before I ARM verdict PCs, to Qualcomm's trial XXXX. I vindicated Qualcomm's center. a innovations next-generation from the the and CPU like data products turn proprietary an CPUs and as on provides provide license our Akash, Oryon affirmed the jury's industries automotive, with in over for versus The IoT update containing December Qualcomm's would

In has to indicated our notice breach withdrawing Qualcomm worldwide excited addition, to that the We're terminate that notified custom of its October benefit world-class products ARM include it agreement. incredible develop plan and was performance-leading continue CPUs. to current us it license recently that consumers no architecture Oryon XX, XXXX, that

now will the turn I call to Akash.

Akash Palkhiwala

you, in start record Thank I'll with fiscal and good quarter. everyone. a Cristiano, our afternoon, the of summary first performance

higher the revenues the across above increase handset Android X $X.X reflecting both devices. billion quarter with $XX.X end QTL newly record SXX non-GAAP stronger to and $X.XX, high outperformance in were of the record expectations. our automotive. QCT which performance global Samsung tier IoT Snapdragon tier consumer $X.X Elite and launched on premium volume $XX.X EPS which our margin growth, billion, driven flagship pleased smartphones Galaxy a and revenues handsets, in of in recently delivered was guidance. end demand with year-over-year announce XX% premium were of volume EBT by of content our platform. share of end billion in in were and by billion of of industry-leading revenues above driven guidance launched and Android revenues was of are line QCT Higher XX% for We Android of high

capability launches billion $X.X industry-leading by with QCT product and quarter processors We increased our and AI of driven consumer, low-power across delivered networking IoT sixth representing on to revenues continued year-over-year, record launches as of XX% consecutive consumers. industrial. high-performance, our in on-device automotive our chips next-generation new $XXX computing automakers bring year-over-year experiences XX% million, revenues to deploy and connectivity of vehicle growth increase QCT content new

our dollars benefit billion the EBT the leverage. $X.X exceeded high XX% and XX% the of QCT of versus QCT by year guidance, reflecting ago revenue operating period. EBT upside of increased end of margins

million to we $XXX returned dividends. and billion including stock billion Lastly, $X.X in repurchases stockholders, in $X.X

to guidance. Now turning

$X.XX. For we reflecting to $X.X margins and of billion $XX billion of billion units. the $X.XX of and with year-over-year XX% In QCT, and $XX.X for billion billion across non-GAAP of of of XX% normal second automotive. to and fiscal EPS to non-GAAP revenues handset seasonality to revenues expect growth IoT we In strong billion handsets, XX% XX%, $X.XX margins $X.X EBT to are revenues we $X.XX EBT estimate forecasting QTL, quarter, to

shipment for grow and in QCT a handset seasonality handset We smartphones. Galaxy to basis, is expect a QCT sequential Samsung the SXX driven Apple. of by On year-over-year benefit decline increased primarily shipments basis, approximately including revenues revenues the by XX% to on

by IoT expect grow to just XX% ago strong I period, momentum driven outlined. the automotive product and versus and We XX%, respectively, revenues approximately year by the

Lastly, to $X.XX expenses we estimate billion. be approximately operating non-GAAP

we've quarter our In finalized new shortly. renewal revenues results metrics: key long-term expect QCT pleased QTL, and OEMs following X agreements are with those automotive QCT total company revenue, Chinese to closing, for the non-GAAP with we handset with across negotiations strong revenues. very EPS, and licenses first records QCT In revenues, execute

XG recently also XG signed addition the the Transsion year. We in fiscal long-term to license last in signed license a to

these additional agreements, With 'XX expect long-term revenues with to be fiscal we consistent 'XX. QTL fiscal

the Our with consumer Android in recent the product and industrial position PC, continued computing across underscore along CES edge performance IoT, our as leadership at devices. connected leader automotive, announcements across handsets, premium-tier

our approaches Lastly, an on-device inflection scaling edge, as transition. this positions high-performance leadership in solutions as inference of AI point to we benefit lead at us the

This you, to concludes our Back Mauricio. remarks. prepared

Mauricio Lopez-Hodoyan

Thank for now you, are Akash. we questions. Operator, ready

Operator

first TD Buchalter comes Joshua with The line from question Instructions] of the [Operator Cowen.

Joshua Buchalter

I guess clarify to start, the QTL I guidance. to wanted

you the flat should to X unit per versus and signed So about of overall assumptions speak levels XXXX the to unit maybe fiscal you're year? in how Could we your think you tracking on shipments through sort royalty I the XXXX. agreements recently. talking know

Akash Palkhiwala

Joshua, it's Akash.

or assumption grows is the digits our market overall either on basis. low on flat that it think a I single year-over-year is

goes China of replacement course, forecast upside AI take QTL baseline that just terms into the But the into of the account is gave. doesn't assumption what rate. subsidy we this and Now the in opportunities

Operator

Our from of line next with question Samik JPMorgan. comes the Chatterjee

Samik Chatterjee

have XXXX I can Maybe, and a adoption consumers. more Snapdragon I between partners years? we XXXX What you device in sort for follow-up. of how and how your questions, maybe go on of playing think about talk PCs. platform thinking hearing enterprises and of Cristiano, terms the now you I out X. thinking but have you're launches in look and of OEM Snapdragon sort start off hearing you're PC if can couple about for how about I'm about as particularly platform if particularly from the the to on next adoption consumer quick interested the terms couple are of in curve enterprise And of curve between a the

Cristiano Amon

get we Look, Investor the we on start for expect that are trajectory we're Very answering providing good, Samik. the some that right? to question question. said very bookends, at your Day last happy by you we're billion, you at that share We mistaken, the with PCs. revenue Thank year Maybe $X I'll by which billion the market addressing. billion of of assume said out XX% calculate, actually a $XX you in time XXXX. about Windows PC We if I'm of $X Sam, a if

we started a well of think very number I with designs.

that we continue. is design metric traction One have the

over and of X across more Series, XXXX. now design in to targeting we go development the have XX to We devices commercialization launched wins than we're XXX as XXXX or

is So It a good. design which is good sign. to traction continued increase,

the of the started We're we made The priority which show actually is grow is script with provided the looking retail. we And XX% sale of X point in consistent process. second retail early within we in data $XXX, metric the above in to United which had. the more States how markets we're like And the Windows expand we different share, projection we the the sale at States, data this the the laptops United of years. at than actually U.S. going is had on markets. We on look that one that to retail we

still starting. We're

I results increase. we'll like continue said, markets. the to expand to new has traction and design the As We continued today,

was wave consumer. first The

a $XXX That's that, announced running were sorry. new native of compromising And which Snapdragon not now because price actually, X have emphasis on DeepSeek-RX -- applications days in showing I security, cetera. a Now X commercial. excited, as the a from et laptops, from now it's VPN, deployed lot to product we're mentioned And we launched why call, AI. addressability few the Snapdragon, to after the of Series being Elite especially we expand laptop, Microsoft towards on of commercial

traction. projections. executing. So happy the keep just Consistent with going long-term We're actually, we're our starting. with to We're

Samik Chatterjee

last follow-up, Got China Akash mentioned smartphones is what and for it. market that for maybe for seeing. sort question, take of And Got you're it. can the my from cue I the subsidies the which

on OEM ground you And of the of thinking Sort of in response in to their of sustainability? seeing from are And what to sort the -- subsidies? overall you consumer are the terms growth impact sort terms the what smartphone and the of But OEMs you the for going of I don't with -- about this know of saw with forward gave number particularly what how you thinking the the of sort Android Akash, trajectory the in them, if, Chinese growth in OEMs terms Chinese quarter. these growth are you light subsidies? Chinese

Akash Palkhiwala

Sure.

address let me it So in parts.

as in So you subsidy, as to began relates it know, they January. the just

the we So far not are that into cycle.

And of so better view it we'll quarter. have next a

in, of has point, have have size terms we subsidies reference the of in that the the seen historical market. In come it past, when improved

contemplated it's So comes second an but not there is that something is our with that guidance. opportunity yet quarter it, in

the volume back Now to I let well. made where go because me comment first quarter that's as

performance, handsets, X were you performance. had If upside the record we quarter strong drivers. very at look first that in the there And

as chipset. our capability the that to gets content in up points. year-over-year It shows we detail increase added the in more is discussed have First price

was we that as well. second basis on a volume The the saw increase year-over-year

look into in when higher at using Samsung. SXX. volume and it down the the And drivers, we of course, increase They share, globally you had are break us really G at

phone into the So that went that December the quarter launch. helps before purchases

that China a that if tier that a in premium to it's in premium quarter have think it's for higher-end how showed you up that well. benefit we China about happens, demand is second the continues grow, we in trend saw the The consumer devices. and seen as And long-term

China The market. in second share the are our customers is gaining

that well. that as so translates through a benefit is And

drivers. us about of our all the that kind drivers those long-term in -- fiscal we of could They're all we half as very feel positions sustained well at second good So business very look the year.

Operator

the line Our with Stacy next comes Bernstein from Research. question of Rasgon

Stacy Rasgon

For the to flat about ask the first I guide, one, wanted QTL year-over-year.

if QTL And assuming I'm the renegotiate it Q, the settle no has current in lighter get on negotiating would normal, year-over-year Does do upside guide you're you there based still which to flat be Huawei with that assume that. than QX, of assumptions? it Huawei. your some is And because for annual a the in So and for suggests Huawei? number you not do guide little money, that

Alexander Rogers

Alex. is This Yes.

question, thanks the So for Stacy.

So singing accomplish managed essentially basically, is the so or up to year what to over we've extension. last everybody

volume ranks So we've development really on unit a of terms is of execution, XG, high -- had good actually. Transsion bringing very popped up run in of the which up significant for the ranks they've because a OEMs

OEMs So we the overall X we to, transitioning license their play. finished then that are return up and content we've complements that XG the more execution these significant signed Huawei negotiations with, holiday. Year pending that in XG we product in to the is have discussions still signed Chinese up just The last them they're New XG the have or Lunar and offering. And from

So potential care with the actually don't basically, taken of. is from the Huawei. else numbers everything And a include renewal

Stacy Rasgon

Got it.

settlement, guidance any just So doesn't that Huawei be clear? to flat include

Akash Palkhiwala

the year the guidance Neither Correct. second full quarter nor comment.

Stacy Rasgon

have you on any would have increased be able Got might a pull follow-up, some tariffs that some of there's if note threat term? forward. to that, demand but be my pre-tariff some fair be of not amount we've to of strength any related of near to general, it. I the on great. That's I sort whether or guys maybe for want it driving just see And the comments you in might or know might do just, personal thought electronics seen don't view recently. prebuilds in what you And in

Cristiano Amon

Yes, absolutely not.

So seeing think, -- share are with than G funny, this think one globally. it's We Samsung to pretty expected we of it's launch at everybody SXX Stacy, asking I higher the right? simple, is actually number question. I expected, be

in exceed the on And electronic have is demand It's of device said. purchase. China. basically Demand built #X successful. tier Akash Smartphone launching Elite expectations. Snapdragon to smartphones end second premium consumer what customer expand. data we sell-through. The Elite continue thing on been It's has is our on X trend The quite

features. I of AI think is build demand. positive the a gaining launch devices. tier, record are that premium Customers there is in driving and great share They

all smartphone all market, in the smartphone our our subsidy. -- And points the price from outlined, our that those China as of of in products, they're devices launch for they customers Akash all using X Elite, eligible products the

So that's they is interesting could expand of usually premium saw This is tariffs end it which the ahead We no -- But QX inventory. further not the this be guide, development. an contemplated in tier. no this to customer demand. build-out

Operator

The next question is with Caso Research. of line Chris from the Wolfe

Christopher Caso

with are following think How launches effect on no QCT. some now? that there about typically, those and on we comments, June guess I should has quarter, June quarter Cristiano. the Because flagship

be Given thinking at share the should how all? the that Samsung, June does in of gain at for we affect that seasonality And general?

Akash Palkhiwala

Yes.

you're across When Chris, right this our the driven timing think, it quarters, the -- seasonality. at framework you last understanding I launches. is terms look flagship of years, kind by the in of of the several

-- specifically is higher of first well. result, kind as on of as launches share. second Samsung, your the guide to point quarter in expect quarter as an be a third the flagship so we have included quarter the the it. On low And and EPS point perspective, don't kind of quarter first you the is high many impact because the from and in in It's question Samsung

and the well. included fourth quarter in as be third And so it will

So think I across seasonality changes quarters. it don't the fundamentally the

Christopher Caso

Got it.

your And there extent, that to of Or What's to looking a a the some if with higher ASP basis price because more will on seeing to dealing there we're out? too, AI. that a but -- little also Snapdragons some going Should in of are on to that quarter points cost, certainly, it tailwind that? not see be of you? going costs factor are bit phones? now. higher. just impact about features it's the from you to a ASP? for are we result Is in a then wafer the customers you're is expect a how because higher-end address mix higher follow-up, of just And OEM Qualcomm, higher As could But

Akash Palkhiwala

smartphones. primary here demand for driver more there the Chris, a is consumer capable that is

from we're price that AI And lot is generation, so on our adding in to points capability we go side processing showing more as on and the and the generation chip. side, up connectivity, a in

So driver. that's primary the

are for kick you price did as and increases course, TSMC X in, Of X-nanometer in aware, January.

the of cost And we've objective period said over so there increases reflect in past, in ASPs the our as time. is a to

So key really drivers. those are the

back, a kind a is overall of that step devices. -- you one, premium messages and I that for but it's more of is an the larger market When shift tier gave about important market, chip across Cristiano the think not having capable earlier just one each the tiers a mix

Operator

The line Deutsche next with question Ross the of Seymore is Bank. from

Ross Seymore

Is just That quarters want cyclical been peers very comps. judge to your question, more most ask we a to just that has cyclicality some business you've to involved Or couple broad-based with had negative there of kind segment. of your cyclical probably in a Just are sequential that want where applicable normal I trend. seeing? IoT seasonality? but year-over-year, of that are a strong is

Akash Palkhiwala

Yes, building does course, have and seeing profile March And of Ross, IoT, because of parts you're point. quarterly the that and when the strength quarter, on of involved is When we're the drivers definitely then of consumer X quarters. for business, past consistently across is you cyclicality edge one big at our holiday other season. look networking, because there's into -- the we IoT the industrial the get you're the which

Ross Seymore

XX% go that, that going pretty implied much a question the in to quarter. looks it hear. as I gears to structurally than that December thought then, something kind in your higher sequentially a be little what's guess, the Is changed? follow-up to Great to flat so, despite gross was down that XX% just going switching is And you range? of if again. to Congratulations I margin, that Akash. kept like QCT It guess

Akash Palkhiwala

from our that have both we mix in that gross That and fact in up improves our shows and mix quarter, the -- benefits December margin, volume. stronger gross premium-tier our quarter March overall of the portfolio, The Yes. margin.

primary the strength. driver of that's So the

you see will you, been very the And that But we yes, just flow the strong. mix margin happy, changes, through so the as numbers. margin's it are like very

Operator

Our question is the Timothy next of UBS. from with line Arcuri

Timothy Arcuri

is in any you're the back evolution forth any modem question. thinking at that been large maybe about on some you you'll there? know the there That's the Cristiano, recently. X. there had Are change first way longer feeling there situation customer? be than you your and I like had I Is there's a little bit expected?

Cristiano Amon

The Yes. is answer no.

think assumptions. I with we're the operating really

I think, what very think those we've been I clear, things are.

ends expect share in XX% renewals, current no the nothing that. assuming in XXXX. We're happens We the for XXXX. means after so And launch that which agreement

we and XXX% XXXX share to XX%. between For launches, be expect

we're know. going think we I But I been that's very and about modeling that think don't how forward. we've So business, clear the assumption

Timothy Arcuri

the think, said than business Akash, little IoT? bit laptop XX%, $XXX $XXX the a within market December. of you You the more million, I'm can you or an PC I U.S. sorry, you how Is that did close? guessing about $XXX were million big give the idea $XXX was of above in -- us in

Akash Palkhiwala

Akash. Tim, Yes, it's

these areas, the an give of update perspective, annual from up each for targets. I set to plan 'XX way set -- for an revenue we've we've it overall long on targets is each of and we give think term those So we

were every very $XXX retail we the share. down in, the get to focus on by that important playing PC area. happy XX% begin We're it our and which breaking is that the is most on To market were quarter what's devices thing to we able with. we're over me, So not

is that think our you the market, set I if number the great to a of said as we'd target, that's which earlier, Cristiano towards overall equate just long-term start up. XX%

Operator

last with is Tal the of America. Liani from Bank Our question of line

Tal Liani

growth to was growth and there itself quarter, last want not this -- continue? that focus a And quarter. will was growing. China The was market very of XX% long this strong. how I is the question QCT smartphones There in on is,

had This quarter, we the Samsung. initial

on grow continue? you of current can can And trends? an Could market How about talk even So the update it longevity you grow? just long demand. doesn't if then the China

Akash Palkhiwala

Sure, Tal.

down. break So let me it

last in at those earlier, our combination as said year-over-year you look of forward, is performance seen drivers very ASPs. as we've really were increase, look XX%. a continue the which years. we we've And the increase higher content up as The several think If we volume that's I consistently sustainable. that to and of over handsets, ASPs QCT And we talked higher about,

Just a device more capability to lot that for the looking consumers we're are adding opportunity. the and

In one grow. continues the that metrics of fact is the us volume, the for key tier terms of to premium

market. So if you gone look the to last XX% XX% at over X market being of have the greater than from X $XXX or years, of now devices the

so in. the And for that's strong a are very is that trend positive incredibly us because that's market that we

of is on of those And well. growth the XX% are is a quickly, factors our as growing and so combination a growing basis. X the units part within of And handset very that the that market within we drive content the year-over-year that, have

year-over-year again, a look at very which you number. is, guiding When we're on handset XX% of strong growth a March basis, the quarter,

we as with year, business the and happy pretty positions up are both it that and first we half in So set of how the look us in well forward.

Tal Liani

update? China

Akash Palkhiwala

Can please? you question repeat your on that,

Tal Liani

but just it, -- in strong I Can the China China? few give trends maybe current the last I said you missed quarters. what's in China. was

Akash Palkhiwala

Yes.

benefits And as last well. that, strong a that thing gain is think have market market that market. grow. We've that customers that our part the of subsidies China, we're then seen premium that tier. come of within the in We've is share also to part in, definitely going potential seen I and so the

tailwinds positive think, So I pretty, there. for us

Operator

Mr. do to That add further the concludes Amon, anything before today's you question-and-answer adjourning session. call? have

Cristiano Amon

the Qualcomm during would and suppliers like all all have to our I partners thank Just for quarter. done employees, they the

this. I very is said As QCT. This pleased before, our quarter billion with in first $XX we're

I think to keep on Everything Thank going we're we the on and very Qualcomm out. executing we cannot be that. within was lay you more control, just confident strategy that much.

Operator

conference. today's gentlemen, this and concludes Ladies

at time. disconnect this now may You

QUALCOMM (QCOM) 5 Feb 252025 Q1 Earnings call transcript