Analyst(s): Futurum Research
Publication Date: November 7, 2025

Qualcomm’s Q4 FY 2025 results demonstrated broad-based execution across core and diversification vectors, with QCT setting a new annual record, and the segment mix tilting toward auto, IoT, and AI PCs. Management reinforced an edge-to-cloud AI strategy spanning handsets, PCs, automotive, XR, industrial IoT, and new data center inference offerings.

What is Covered in this Article:

• Qualcomm’s Q4 FY 2025 financial results
• Android premium and AI PC momentum in QCT
• Automotive digital chassis progress and scaling
• IoT/XR expansion and developer ecosystem moves
• Guidance and Final Thoughts

The News: Qualcomm (NASDAQ: QCOM) reported Q4 FY 2025 results. Revenue was $11.3 billion, up 10% year over year (YoY), versus Wall Street consensus of $10.8 billion (+4.6% versus consensus). Segment revenue performance: QCT revenue was $9.8 billion (+13% YoY) and QTL revenue was $1.4 billion (-7% YoY); within QCT, Handsets were $7.0 billion (+14% YoY), IoT was $1.8 billion (+7% YoY), and Automotive was $1.1 billion (+17% YoY). Adjusted operating income was $3.8 billion (+8.6% YoY), implying an adjusted operating margin of approximately 33.8% (Q4 FY 2024: 34.2%). Adjusted net income was $3.3 billion (+7% YoY) and adjusted diluted EPS was $3.00 (+12% YoY).

“Our business remains strong as demonstrated by record QCT revenues in fiscal 2025. We delivered 18% year-over-year growth in total QCT non‑Apple revenues, with combined fiscal year Automotive and IoT revenue growth of 27%. We are excited about our business momentum, the availability of our automated driving stack, and our expansion to data centers and advanced robotics,” said Cristiano Amon, President and CEO of Qualcomm.

Qualcomm Q4 FY 2025: Record QCT, Auto/IoT Growth, Solid Outlook

Analyst Take: Qualcomm’s Q4 FY 2025 capped a year of sustained execution across premium Android, automotive, IoT, and the initial ramp of AI PCs, while planting flags in data center inference. QCT’s record year and mix shift beyond handsets point to a more durable, diversified growth profile heading into FY 2026. The company also highlighted a multi-year AI strategy at the edge and in cloud inference, complemented by acquisitions to accelerate industrial IoT developer adoption. The setup balances near-term handset seasonality with structural drivers in automotive, XR, AI PCs, and forthcoming data center offerings.

Mobile and AI PC Momentum

Premium Android remained a key driver, with QCT handset revenue of $7.0 billion in Q4 (+14% YoY) and continued content expansion tied to the Snapdragon 8 Elite Gen 5 platform. Management underscored a structural shift toward the premium tier, supporting ASP and earnings even in a flattish overall handset market. On PCs, Qualcomm introduced Snapdragon X2 Elite and X2 Elite Extreme, citing performance and power leadership versus incumbent x86 options. The company now expects approximately 150 AI PC designs to be commercialized through 2026, signaling broader OEM adoption across both consumer and enterprise channels. This design pipeline, coupled with the end-of-life tailwinds for Windows 10, positions PCs as a meaningful growth vector for QCT. The takeaway: Mobile leadership, combined with AI and PC scale-up, reinforces QCT’s durability beyond handset cycles.

Automotive Digital Chassis Progress

Automotive surpassed the $1.0 billion quarterly revenue mark in Q4 (+17% YoY), reflecting steady adoption of the Snapdragon Digital Chassis. The launch of Snapdragon Ride Pilot (L2+ automated driving) in BMW’s iX3 and validation across 60 countries (targeting ~100 in 2026) illustrates both technical maturity and global readiness. Qualcomm also expanded partnerships, integrating Google’s Gemini models to enable personalized in-vehicle AI agents across software-defined vehicles. Management reiterated its track toward the FY 2029 automotive revenue target outlined at the 2024 Investor Day. With a broad OEM pipeline and platform-led stacking of ADAS, cockpit, connectivity, and cloud, content growth appears intact. The takeaway: automotive remains on a credible multi-year scaling path tied to software-defined vehicle roadmaps.

IoT, XR, and Edge Platform Expansion

QCT IoT revenue reached $1.8 billion in Q4 (+7% YoY) and $6.6 billion for FY 2025 (+22% YoY), supported by industrial, networking, and XR demand. Qualcomm completed the acquisition of Arduino, adding a developer ecosystem of 30 million users and releasing the Arduino UNO Q (Dragonwing-based) to speed edge AI solution development. XR demand is accelerating, with 30 designs in production or development and strong traction from Meta’s new Snapdragon-powered smart glasses, alongside Samsung’s Galaxy XR for Google’s latest Android XR. The Snapdragon Insiders community grew to 20 million members, reinforcing developer and enthusiast engagement around Snapdragon platforms. This ecosystem strategy aims to compound content, attach rates, and time-to-market advantages across edge AI categories. The takeaway: ecosystem, tools, and design momentum expand Qualcomm’s IoT/XR surface area and revenue visibility.

Guidance and Final Thoughts

For Q1 FY 2026, Qualcomm guided revenue to $11.8 billion–$12.6 billion (consensus: $11.6 billion) and non-GAAP diluted EPS to $3.30–$3.50 (consensus: $3.26), with QCT at $10.3 billion–$10.9 billion and QTL at $1.4 billion–$1.6 billion. Management continues to execute toward FY 2029 targets in automotive and IoT, while signaling an H1 2026 update on data center inference (AI200/AI250 SoCs, accelerators, racks) and robotics. Notably, the initial HUMAIN deployment target of 200 megawatts, starting in 2026, points to an early but material interest in power-efficient inference alternatives. Combined with AI PC ramp and premium Android momentum, the outlook suggests a more diversified revenue base into FY 2026.

See the full press release on Qualcomm’s Q4 FY 2025 financial results on the company website.

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Disclosure: Futurum is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.

Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of Futurum as a whole.

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