“We expect IoT and automotive revenues to grow by approximately 15% and 50% respectively versus the year-ago period, driven by the strong product momentum I just outlined.”

In context

“tock repurchases and $942 million in dividends. Now, turning to guidance. For the second fiscal quarter, we are forecasting non-GAAP revenues of $10.2 billion to $11 billion and non-GAP EPS of $2.70 to $2.90. In QTL, we estimate revenues of $1.25 billion to $1.45 billion and EBT margins of 69% to 73%, reflecting normal seasonality for headsets units. In QCT, we expect revenues of $8.9 billion to $9.5 billion and EBT margins of 29% to 31%, with strong year-over-year growth across handsets, IoT, and automotive. We expect QCT handset revenues to grow by approximately 10% on a year-over-year basis, including the benefit of increased shipment for Samsung Galaxy S25 smartphones. On a sequential basis, the decline in QCT handset revenues is primarily driven by seasonality and shipments to Apple. We expect IoT and automotive revenues to grow by approximately 15% and 50% respectively versus the year-ago period, driven by the strong product momentum I just outlined. Lastly, we estimate non-GAAP operating expenses to be approximately $2.25 billion. In closing, we are very pleased with our strong first quarter results, with new records across the following metrics, total company revenue, non-GAAP EPS, QCT revenues, QCT handset revenues, and QCT automotive revenues. In QTL, we finalized renewal negotiations for long-term licenses with two key Chinese OEMs and expect to execute those agreements shortly. We also recently signed Transsion to a long-term 4G license in addition to the 5G license signed in the last fiscal year. With these additional long-term agreements, we expect fiscal ‘25 QTL revenues to be consistent with fiscal ‘24. Our recent product announcements at CES across PC, automotive, consumer, and industrial IoT, along with the continued perfo”