Qualcomm completes 2nm chip design tape-out in India, Q1 revenue $12.25B
Qualcomm completed tape-out of a 2nm chip design in India by its Bengaluru, Chennai and Hyderabad teams under the India Semiconductor Mission 2.0. Q1 revenue hit a record $12.25B (up 5% YoY) with EPS $3.50 beating $3.40 estimates, but Q2 revenue guidance of $10.20B-$11.0B trails the $11.11B consensus.
1. 2nm Tape-Out Milestone
Qualcomm has finalized the tape-out of a 2nm process node chip design from its Bengaluru, Chennai and Hyderabad engineering centers, marking its most advanced design breakthrough in India and underscoring progress under the India Semiconductor Mission 2.0 initiative.
2. Q1 Financial Performance
In the first quarter Qualcomm posted record total revenue of $12.25B, a 5% year-over-year increase, driven by a QCT segment revenue of $10.61B across handsets, automotive and IoT, and QTL licensing revenue of $1.59B; adjusted EPS reached $3.50 versus consensus $3.40.
3. Q2 Guidance and Outlook
Qualcomm forecasted second-quarter revenue between $10.20B and $11.0B, below the $11.11B Street estimate, and projected adjusted EPS of $2.45 to $2.65 versus the $2.88 consensus, citing memory supply constraints affecting handset demand.
4. Market Reaction
Shares slipped 0.31% in premarket trading on the news, reflecting mixed investor sentiment over the advanced design achievement offset by cautious guidance and industry-wide memory headwinds.