Qualcomm took a hit from US President Donald Trump’s One Big Beautiful Bill in its fiscal Q4 2025 (the period to 28 September), but revenue increased 10 per cent year-on-year to $10.2 billion.

The company took a one-time, non-cash tax-related charge of $5.7 billion related to the passing of the bill earlier this year. It recorded a net loss of $3.1 billion compared with a $2.9. billion profit in the comparable period of fiscal 2024.

Qualcomm’s business is split into its QCT segment, which includes handset, IoT and automotive revenue, and its QTL segment comprising technology licensing.

Revenue in Qualcomm’s handsets business rose 14 per cent to $6.9 billion, which CEO Cristiano Amon (pictured) said was driven by strong customer demand for its flagship Snapdragon 8 Elite Gen 5 system-on-chip on premium Android handsets.

He noted the automotive sector set a quarterly record of $1 billion, up 17 per cent, while IoT revenue rose 7 per cent to 1.8 billion .

“All three QCT revenue streams exceeded our expectations,” he said on a call to discuss the numbers.

Overall QCT revenue of $9.8 billion was up 13 per cent and QTL generated $1.4 billion, 7 per cent higher.

Qualcomm predicts fiscal Q1 2026 revenue of $11.8 billion to $12.6 billion, above an average analyst estimate of $11.6 billion shown by London Stock Exchange data.

CFO Akash Palkhiwala said Qualcomm expects its non-GAAP tax rate to remain in the 13 per cent to 14 per cent range and “lower cash tax payments relative to prior expectations”.

Qualcomm forecast fiscal Q1 QTC revenue of between $10.3 billion and $10.9 billion and QTL $1.4 billion to $1.6 billion.