What impacted Qualcomm's revenue cost in Q2 2024?

Qualcomm's revenue for Q2 2024 was $9.4 billion, which represents a slight increase of 1% year-over-year and surpassed the estimated $9.338 billion. The revenue growth was primarily driven by strong performance in the automotive sector, with a robust increase of 35% in automotive revenue, totaling $603 million. Additionally, the company's CDMA Technologies segment benefited from the recovering smartphone market and record Qualcomm CDMA Technologies automotive sales. The surge in demand for high-end chipsets optimized for AI, such as the Snapdragon 8 Gen 3, and the growing interest in generative artificial intelligence also contributed to the revenue growth. Qualcomm's expanding offerings with artificial intelligence capabilities and upcoming launches, including the Snapdragon X platforms, further support the company's growth trajectory.