Qualcomm (QCOM) official guidance

| Less diluted EPS attributable to other items3 | ($0.13) |

| Less diluted EPS attributable to share-based compensation | ($0.99) |

| GAAP diluted EPS | $1.03 - $1.23 |

| Non-GAAP diluted EPS | $2.15 - $2.35 |

The semiconductor industry is experiencing a broad-based increase in input costs across wafer fabrication, assembly, test, advanced packaging, memory and other materials. As previously disclosed, we are taking actions to reflect the higher input costs in our product pricing. We anticipate the full benefit of these actions to be reflected in QCT gross margins in the second half of fiscal 2027.

“Fiscal 2027 marks the start of our non-handset revenue inflection, including the ramp of our Data Center business. Non-handset revenues are projected to grow by more than 60% year-over-year, and we are reiterating our fiscal 2027 Data Center revenue target of $5B.”

| QCT revenues2 | $9.0B - $9.6B |

| QTL revenues | $1.3B - $1.5B |

| Revenues | $10.4B - $11.2B |

“Fiscal 2027 marks the start of our non-handset revenue inflection, including the ramp of our Data Center business. Non-handset revenues are projected to grow by more than 60% year-over-year, and we are reiterating our fiscal 2027 Data Center revenue target of $5B.”

Today, we're raising that outlook and now expect annualized sales of approximately $7 billion exiting fiscal 2026.

In QCT, we expect revenues of $8.4 billion-$9 billion and EBT margins of 23%-25%.

In QTL, we estimate revenues of $1.2 billion-$1.4 billion, an EBT margin of 68%-72%, reflecting normal seasonal trends.

We are forecasting revenues of $9.7 billion-$10.5 billion and non-GAAP EPS of $2.05-$2.25.

As a result of our diversification execution, we now estimate non-handsets at more than 50% of QCT revenues in fiscal 2027 and grow to approximately 2/3 in fiscal 2029.

Lastly, we anticipate non-GAAP operating expenses to be approximately $2.7 billion in the quarter, reflecting the acquisition of Modular and continued investment in our data center product roadmap ahead of revenue ramp.

This forecast includes data center revenue growth to $5 billion in fiscal 2027 and $15 billion in fiscal 2029.

We also updated our fiscal 2029 financial targets, which now include more than $24 billion in revenue across automotive and IoT, plus more than $15 billion in data center, bringing our total non-handset revenue outlook to $40 billion by fiscal 2029, up from our previous target of $22 billion.

In QCT, we expect revenues of $8.4 billion-$9 billion and EBT margins of 23%-25%.

In QTL, we estimate revenues of $1.2 billion-$1.4 billion, an EBT margin of 68%-72%, reflecting normal seasonal trends.