Qualcomm Posts Q4 Beat

It's Benzinga, bringing Wall Street to Main Street. Qualcomm reported fourth quarter adjusted earnings of $2.17 per share, beating Wall Street expectations of $2.16, according to Benzinga. Revenue fell 8% year over year to $10.32 billion, topping estimates of $10.11 billion. Handset revenue dropped 26% to $5.137 billion, while automotive revenue surged 89% to $1.99 billion, setting a quarterly record. Internet of Things revenue rose 4% to $1.888 billion. CEO Cristiano Amon said the company expects non-handset revenue to grow more than 60% year-over-year in fiscal 2027 and reaffirmed its $5 billion data center revenue target. The company also renewed long-term licensing agreements with Apple, Huawei, and Transsion. Qualcomm announced a multi-generational product collaboration with Amazon for AI data centers and a partnership with SpaceX's Starlink. For all things money, visit Benzinga.com.