Qualcomm holds its $5B data centre target and guides first-quarter revenue to $10.4B-$11.2B
Chief executive Cristiano Amon says fiscal 2027 marks the start of an inflection in sales outside phones, which Qualcomm expects to grow by more than 60%.
Chart: QCOM, one-minute prices, three sessions
Qualcomm guided first-quarter fiscal 2027 revenue to a range of $10.4B to $11.2B. It guided non-GAAP diluted earnings per share to $2.15 to $2.35 and GAAP diluted earnings per share to $1.03 to $1.23.
Chief executive Cristiano Amon said fiscal 2027 marks the start of the company's non-handset revenue inflection, including the ramp of its data centre business. Non-handset revenue, meaning sales outside the smartphone chip business, is projected to grow more than 60% year over year in fiscal 2027.
The fourth quarter itself was close to a non-event. Earnings per share were $2.17, $0.03 worse than expected, and revenue of $10.32B matched expectations. A miss that small leaves the outlook to carry the story.
That outlook gives management a marker to defend, after cost-cutting disclosed in October raised questions about internal discipline. It is still a forecast, and Qualcomm has to deliver it. The company reiterated its fiscal 2027 Data Center revenue target of $5B.
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