Qualcomm Keeps $5 Billion Data Center Revenue Target for Fiscal 2027

Qualcomm reported in its earnings release fiscal fourth quarter revenue of $10.32 billion, down 8% from a year earlier. GAAP net income was $1.25 billion, while adjusted net income fell 28% to $2.33 billion.

The QCT semiconductor business, operated by Qualcomm Technologies, recorded $9.02 billion in quarterly revenue. Handset revenue fell 26% to $5.14 billion, automotive revenue rose 89% to $1.99 billion, and internet of things revenue increased 4% to $1.89 billion.

Qualcomm maintained its fiscal 2027 data center revenue target of $5 billion and projected non handset revenue growth of more than 60%. For the first quarter of fiscal 2027, it expects revenue of $10.4 billion to $11.2 billion and adjusted diluted earnings of $2.15 to $2.35 per share.