What you need to know
- Qualcomm’s latest earnings report shows an 11% increase in revenue at $9.39 billion.
- Qualcomm CEO Cristiano Amon highlights new AI PCs powered by the latest Snapdragon chips.
- Qualcomm’s earnings follow Samsung’s, which reported year-over-year growth with sales of the Galaxy S24 series, which is partially powered by Qualcomm chips.
- Qualcomm is expected to announce its new Oryon-powered Snapdragon chips later this year.
Qualcomm reported its fiscal year Q3 financial earnings, announcing $9.39 billion in revenue, an 11% increase in overall revenue compared to the same period last year.
Qualcomm’s growth was the result of a 12% increase in headset revenue of over $8 billion, highlighted by the latest Snapdragon 8 Gen 3, which launched on devices like the Galaxy S24 series and other flagship Android phones. Qualcomm CEO also highlights the excitement around new Copilot Plus PCs powered by Snapdragon chips, which went on sale starting in June.
“We are excited about the launch of our Snapdragon X Series solutions for PCs that deliver leading performance, unmatched power efficiency and personalized AI experiences,” Amon said in a prepared statement.
“This launch represents a significant milestone in our transformation from a communications company to a leading intelligent computing company.”
Qualcomm is also gearing up for the Snapdragon Summit later this year, where it will launch its next-generation chipset for smartphones, which will be powered by the same Oryon cores used in its Snapdragon X Elite chips for PCs.
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