- $QCOM (-4,11 %) The chip manufacturer reported revenue of $11.67 billion for the first quarter of the 2025 financial year, an increase of 17% year-on-year.
- Earnings of $3.18 billion, or $2.83 per share, topped Visible Alpha's estimates.
The increase was supported by growing demand for chips in handheld devices, indicating a nascent recovery in the smartphone market.
These devices are a key driver of Qualcomm's business, as the company supplies a number of high-profile corporate customers, including China's Vivo and Xiaomi (OTC:XIACF), as well as iPhone maker Apple (NASDAQ:AAPL).