Technology giant Qualcomm Inc (NASDAQ:QCOM) reported first-quarter financial results on Wednesday after market close.

Here are the key highlights.

Qualcomm Q1 Earnings

Qualcomm reported record quarterly revenue with first-quarter total revenue of $12.25 billion, up 5% year-over-year. The revenue beat a Street consensus estimate of $12.18 billion according to data from Benzinga Pro.

QCT revenue was a record $10.61 billion in the quarter, up 5% year-over-year. QTL revenue was $1.59 billion in the quarter, up 4% year-over-year.

QCT revenue by segment was:

Handsets: $7.82 billion, +3% year-over-year

Automotive: $1.10 billion, +15% year-over-year

IoT: $1.69 billion, +9% year-over-year

The company reported adjusted earnings per share of $3.50, which beat a Street consensus estimate of $3.40.

Automotive was also a company record and this marked the second consecutive quarter of ...