Qualcomm Inc (NASDAQ:QCOM, ETR:QCI)’s fiscal fourth quarter financial results topped estimates for both revenue and earnings per share (EPS), however, a tax-related charge saw it post a net loss for the period.
For the September quarter, revenue was up 10% year-over-year at $11.27 billion, above estimates of $10.77 billion. Adjusted (non-GAAP) EPS of $3 beat estimates of $2.88.
The company said new US tax legislation in Trump’s one Big Beautiful Bill Act resulted in a $5.7 billion non-cash charge, or $5.29 per share.
This resulted in Qualcomm reporting a GAAP loss of $3.12 billion or $2.89 loss per share, compared to a profit of $2.92 billion or $2.59 per share for the year-ago period.
Qualcomm’s operations are split into two segments: QCT, which covers revenue from smartphones, the Internet of Things, and automotive products, and QTL, which includes income from technology licensing.
In the quarter, QCT reported $9.8 billion in revenue, exceeding the expected $9.3 billion, while QTL earned $1.4 billion, matching Street expectations.
"Our business remains strong as demonstrated by record QCT revenues in fiscal 2025,” said Qualcomm CEO Cristiano Amon. “We delivered 18% year-over-year growth in total QCT non-Apple revenues, with combined fiscal year Automotive and IoT revenue growth of 27%.”
Looking ahead to the December quarter, Qualcomm projects fiscal Q1 revenue between $11.8 billion and $12.6 billion, which topped the consensus forecast of $11.62 billion.
Adjusted EPS was guided in the range of $3.30 to $3.50, slightly above the $3.31 per share expected by analysts.
Shares of Qualcomm were down 2.6% at about $175 post-earnings.