Qualcomm Inc (NASDAQ:QCOM, ETR:QCI) shares edged lower afterhours despite the semiconductor and wireless telecommunications product manufacturer posting higher sales and profits than expected for the December quarter.
Revenue for the fiscal first quarter of 2025 was $11.7 billion, above Wall Street expectations of $10.9 billion.
Adjusted earnings per share (EPS) grew 25% to $3.41 from $2.75 in the year-ago quarter, above estimates of $2.97.
For the fiscal second quarter, revenue is forecast to be in the range of $10.3 billion to $11.2 billion, compared to Street estimates of $10.4 billion.
Qualcomm expects EPS in the range of $2.70 to $2.90 above the consensus of $2.68.
“We are very pleased to have achieved quarterly revenue records, which reflect the strength of our technology, product roadmap and end-customer demand,” Qualcomm CEO Cristiano Amon said in a statement.
“We are delivering growth across our diversification initiatives and remain committed to executing on our fiscal 2029 targets to achieve $22 billion of non-handset revenues.”
Qualcomm shares moved lower despite its strong report and outlook, down 3.7% afterhours.