Qualcomm — Nov 5, 2025 release

We are excited about our business momentum, the availability of our automated driving stack, and our expansion to data centers and advanced robotics.” Fourth Quarter Results 1 GAAP Non-GAAP (in millions, except per share data and percentages) Q4 Fiscal 2025 Q4 Fiscal 2024 Change Q4 Fiscal 2025 Q4 Fiscal 2024 Change Revenues $11,270 $10,244 +10% $11,270 $10,244 +10% Earnings before taxes (EBT) $2,971 $2,597 +14% $3,792 $3,491 +9% Net (loss) income ($3,117) $2,920 (207%) $3,257 $3,036 +7% Diluted (loss) earnings per share (EPS) ($2.89) $2.59 (212%) $3.00 $2.69 +12% Fiscal 2025 Results 1 GAAP Non-GAAP (in millions, except per share data and percentages) Fiscal 2025 Fiscal 2024 Change Fiscal 2025 Fiscal 2024 Change Revenues $44,284 $38,962 +14% $44,141 $38,944 +13% EBT $12,663 $10,336 +23% $15,458 $13,287 +16% Net income $5,541 $10,142 (45%) $13,298 $11,545 +15% EPS $5.01 $8.97 (44%) $12.03 $10.22 +18% (1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.” Income Taxes With the enactment of recent U.S. tax legislation in the One Big Beautiful Bill Act, we now expect our effective tax rate to generally remain in the 13% to 14% range and anticipate lower cash tax payments in future periods. However, this new tax legislation resulted in a non-cash $5.7 billion charge, or $5.29 per share, in the fourth quarter of fiscal 2025 to establish a valuation allowance against our U.S. federal deferred tax assets, as we now expect to be subject to the U.S. corporate alternative minimum tax beginning in fiscal 2026. This charge was excluded from our Non-GAAP metrics but impacted our GAAP results. Qualcomm Announces Fourth Quarter and Fiscal 2025 Results Page 2 of 10 Segment Results Fourth Quarter QCT QTL (in millions, except percentages) Q4 Fiscal 2025 Q4 Fiscal 2024 Change Q4 Fiscal 2025 Q4 Fiscal 2024 Change Revenues $9,821 $8,678 +13% $1,409 $1,521 (7%) EBT $2,896 $2,465 +17% $1,015 $1,120 (9%) EBT as % of revenues 29% 28% +1 point 72% 74% -2 points Fiscal 2025 QCT QTL (in millions, except percentages) Fiscal 2025 Fiscal 2024 Change Fiscal 2025 Fiscal 2024 Change Revenues $38,367 $33,196 +16% $5,582 $5,572 — EBT $11,670 $9,527 +22% $4,043 $4,027 — EBT as % of revenues 30% 29% +1 point 72% 72% — QCT Revenue Streams 1 Fourth Quarter Fiscal (in millions, except percentages) 2025 2024 Change 2025 2024 Change Handsets