Qualcomm tops estimates for earnings and revenue on strong smartphone demand
1. Qualcomm exceeded Q1 earnings expectations at $3.41 per share. 2. Revenue increased 18% year-over-year to $11.67 billion. 3. Automotive segment grew 61%, driven by long-term contracts. 4. Mobile handset sales reached $7.57 billion, outperforming estimates. 5. Strong demand from China for premium smartphones positively impacted sales.