Qualcomm Logs $10.6B Q2 Sales, $2.65 EPS; Samsung to Boost In-House SoCs
Qualcomm posted Q2 revenue of $10.6 billion and non-GAAP EPS of $2.65, hitting the top of guidance, while automotive segment achieved record revenues. Management warned Samsung will adopt more in-house SoCs reducing Qualcomm’s premium smartphone share and acknowledged increased data-center competition from inferencing-focused rivals.
1. Q2 Financial Performance
Qualcomm delivered Q2 revenue of $10.6 billion and non-GAAP earnings per share of $2.65, reaching the high end of its forecast and reflecting resilience in core segments.
2. Samsung Premium Smartphone Engagement
The company reiterated a multiyear framework with Samsung, maintaining over 70% share today, but warned that Samsung’s shift toward in-house SoCs will gradually reduce Qualcomm’s premium smartphone volumes.
3. Data Center Market Strategy
Facing growing data-center competition, Qualcomm emphasized its disaggregated solutions combining high-performance CPUs and accelerators to offer superior compute density and lower total cost of ownership than inferencing-focused rivals.
4. Automotive and Licensing Outlook
Qualcomm reported record automotive revenues in Q2, driven by increased SoC content per vehicle, and expects its QTL licensing business to benefit from stable premium handset demand despite mid-tier market headwinds.