Overview

• The chipmaker posted third-quarter revenue of $10.37 billion and adjusted EPS of $2.77, surpassing LSEG estimates of $10.35 billion and $2.71
• It forecast fourth-quarter revenue between $10.3 billion and $11.1 billion, above analysts’ consensus of $10.64 billion
• Shares fell nearly 5% as investors weighed the impact of Apple’s shift to in-house modems alongside renewed U.S. semiconductor tariff risks
• Non-Apple chip sales have increased over 15% year-to-date, with automotive revenue at $984 million, IoT at $1.7 billion and 19 augmented reality design wins
• Qualcomm is in advanced discussions with a leading hyperscaler to supply datacenter CPUs, expecting revenues to begin in fiscal 2028