Qualcomm stock gains on strong fiscal 2025 earnings

Qualcomm Incorporated (ISIN US7475251036) reported fiscal 2025 revenue of $44.3 billion and diluted earnings per share of $9.38, while fourth-quarter revenue reached $11.27 billion and non-GAAP EPS was $3.00. The company said those results came from the year ended 28 September 2025, giving Qualcomm stock a fresh fundamental base even without a new event in the current session.

Fiscal 2025 revenue at $44.3 billion

Revenue of $44.3 billion in fiscal 2025 compared with $39.0 billion in fiscal 2024, a rise of about 13.6%. That comparison is the clearest year-on-year anchor in the latest report and shows how Qualcomm’s scale changed over a 12-month period.

Non-GAAP earnings per share reached $10.02 in fiscal 2025, up from $9.15 in fiscal 2024. Net income attributable to Qualcomm was $14.4 billion in fiscal 2025, compared with $9.9 billion a year earlier, according to the company’s annual report dated 5 November 2025.

Quarterly earnings add detail

For the quarter ended 28 September 2025, Qualcomm posted revenue of $11.27 billion and GAAP EPS of $2.74, versus revenue of $10.24 billion and GAAP EPS of $2.59 in the prior-year quarter. Non-GAAP EPS was $3.00 in the same quarter, up from $2.69 a year earlier, which gives investors a second dated comparison point.

Those figures matter because they tie the annual trend to the latest quarter, not just to a full-year summary. The gap between annual revenue growth and quarterly growth also suggests the pace was steady rather than one-off.

Margin and cash matter

Qualcomm also reported that fiscal 2025 operating cash flow reached $13.5 billion and free cash flow was $12.4 billion, compared with $12.0 billion and $10.8 billion, respectively, in fiscal 2024. The company ended the year with cash, cash equivalents and marketable securities of $13.0 billion, while total debt stood at $14.2 billion.

Gross margin in fiscal 2025 was 55%, versus 55% in fiscal 2024. That flat margin profile matters because the revenue increase translated into higher profits without a visible deterioration in profitability.

Investor relations context

According to Qualcomm’s investor relations materials, the company continues to frame its results around handsets, automotive and IoT, with automotive revenue and IoT revenue both part of the reporting mix. The latest annual report places the business on a broader base than a single-device cycle, which helps explain why the earnings set is more durable than a pure handset story.

The annual report also shows that Qualcomm returned capital through dividends and repurchases during fiscal 2025. Cash generation, rather than a single product cycle, remains the central support for Qualcomm stock.

Snapdragon still drives the mix

Qualcomm’s Snapdragon platform remains its best-known product line and the core consumer-facing brand in its portfolio. The business line is relevant because handset and compute demand still feed the company’s royalty and chipset economics, even as automotive and IoT have become more visible in the revenue mix.

For investors, the product question is less about one launch and more about how the portfolio spreads revenue across end markets. That is why the 2025 numbers matter more than any short-term narrative.

Nasdaq price reference

Qualcomm stock trades on Nasdaq, and the company’s latest disclosed financial year gives the market a clear reference point: $44.3 billion in fiscal 2025 revenue, $9.38 in diluted EPS, and $12.4 billion in free cash flow. Those figures set the framework for valuation even when the session itself provides no new company announcement.