Semiconductor giant Qualcomm Inc. (NASDAQ: QCOM) is set to report earnings on Wednesday, and it couldn’t come at a more ...

Qualcomm Technology Licensing (QTL) revenues totaled $1.27 billion, up 3% year over year, owing to strength in handset and automotive businesses. EBT margin improved to 70% from 66%.

Qualcomm Technology Licensing (QTL) revenues totaled $1.27 billion, up 3% year over year, owing to strength in handset and automotive businesses. EBT margin improved to 70% from 66%.

Qualcomm said that its automotive business grew a 59% on an annual basis, to $959 million in sales. Its Internet of Things business rose 27% to $1.58 billion in revenue.

The fastest-growing market for Qualcomm is its automotive business, which grew 61% to $961 million in sales, as long-term contracts for the company's parts and software turn into recorded revenue.

Qualcomm's automotive business is growing rapidly with ADAS/AV solutions. Learn why QCOM stock is poised for long-term growth driven by auto and IoT.