Cristiano R. Amon
President and Chief Executive Officer at QUALCOMM
Thank you, Mauricio, and good afternoon, everyone. Thanks for joining us today. Based on our performance over the past several quarters and the strong fiscal second quarter guidance, it is clear that our strategy is working. Demand for our products and solutions continues to accelerate, as our one technology roadmap is driving the growth of premium Android smartphones, as well as enabling the connected intelligent edge, which is driving digital transformation for the cloud connected economy.
As you can see from our results today, strong performance in our chipset and licensing business led to record fiscal first quarter revenues of $10.7 billion and record non-GAAP earnings per share of $3.23. Our chipset business had its second consecutive quarter of record performance, with revenues of $8.8 billion, EBT of $3.1 billion and EBT margin of 35%. Notably QCT revenues exceeded those of any fabulous semiconductor company. These results demonstrate the continued success of our diversification strategy.
In IoT, we continue to see strong momentum, with revenue growth of 41% year-over-year in the first quarter across consumer, edge networking, and industrial. In consumer IoT, our early investments collaboration with Microsoft, and the recent acquisition of NUVIA uniquely positions us to drive the PC industry transition to ARM-based computing for next generation connected laptops.
We recently introduced two new platforms, the 8cx Gen 3 and 7c plus Gen 3. In ex-CES, we highlighted broad support from ecosystem partners, including Acer, ASUS, HP, Lenovo, and Microsoft as well as 200 enterprise customers currently testing or deploying Windows on Snapdragon laptops in two in one devices. We are also seeing strong growth in premium and high tier Android tablets further highlighting the convergence of mobile and PC. Notably, we have already doubled the total number of premium tier Android tablet design wins launch or in the pipeline versus all of fiscal '21.
Additionally, as the metaverse opportunity materializes, we continue to build on our industry leadership position in VR and AR devices with key ecosystem players including, Meta and Microsoft. At CES, we announced a collaboration with Microsoft to expand and accelerate the adoption of augmented reality in both the consumer and enterprise sectors. This partnership includes custom AR chips to enable a new wave of power-efficient, lightweight AR glasses that deliver rich and immersive experiences, as well as plans to integrate our Snapdragon Spaces XR Developer Platform into Microsoft Mesh.
We're also very pleased that Time Magazine named our Snapdragon XR2 Platform as one of the best inventions of 2021 and we're seeing strong support for our VR and AR platforms from virtually all ecosystem providers, OEMs and content creators.
In edge networking, we continue to lead in current and next-generation high performance WiFi 6 and WiFi 6E solutions, which now make up more than 80% of our WiFi access point revenues. Recently, we launched the world's first quad band WiFi 6E mesh system with Netgear, which was rated the best-in-class mesh platform by PC Magazine. Additionally, our WiFi 6 immersive home platforms continue to gain momentum across regions with significant growth now expanding into China, one of the fastest growing markets for WiFi 6 for both retail and carrier deployments.
5G as wireless fiber continues to gain scale and expand globally. In addition to our extended range millimeter wave platforms, we recently expanded our portfolio to include 5G fixed wireless access solutions with extended range sub 6, and we're seeing strong traction.
In industrial, we're still in the early phases of digital transformation across many industries and demand for our solutions continues to accelerate. As an example, combined smart utility meter, tracking robotics and retail revenues more than doubled over the last year. In robotics specifically, we expect total fiscal '22 product launches using our platforms to increase by over 50% year-over-year, spanning applications from warehouse automation to public safety, delivery services and in-home assistance.
The diversity of vertical segments and applications reflects our ability to provide a common platform that integrates advanced computer vision, on device AI, high performance in low power computing and industry leading connectivity technologies.
In RF front-end, we successfully launched our latest 5G modules, which now include our ultraBAW technology. Our modem to antenna strategy is working enhancing power and performance with every generation of Snapdragon. Notably, virtually all our Snapdragon 8 Gen 1 design wins now include Qualcomm ultraBAW filter technology.
Building on our success in handsets, we're seeing traction with our modem to antenna solution across automotive and IoT. As examples, we're well positioned to address up to $30 of 5G RF content per vehicle, and we're also intersecting our RF front-end roadmap with WiFi 7.
In automotive, Qualcomm is becoming the technology partner of choice for the industry and we are enabling the transition of the automobile to additional cloud connected platform. Our innovative Snapdragon Digital Chassis is an open and scalable cloud enabled platform for telematics, connectivity, digital cockpit and ADAS, and uniquely position us as the leading system solution provider for silicon, software, systems and services across multiple domains. As a reminder, General Motors, BMW and now Renault Group are cornerstone customers for our platform, including ADAS.
At CES, we announced an addition to our ADAS, an autonomy platform the Snapdragon Ride Vision System, a new modular computer vision solution that combines our Snapdragon Ride SoCs with the next generation visual perception software from Arriver. It supports the various compute functions needed for enhanced perception around the vehicle and scales across applications from entry-tier NCAP front camera to comprehensive front and surround view camera for enhanced autonomy. We expect the Snapdragon Ride Vision System to be available in production in 2024.
In handsets, we recently announced our most advanced 5G mobile platform for flagship smartphones, the Snapdragon 8 Gen 1 at our Annual Snapdragon Tech Summit. The announcement was viewed by more than 50 million people worldwide. The new Snapdragon 8 Gen 1 leads the way to a new era of premium mobile technology with category-defining enhancements across modern RF camera, AI, gaming, security and more. Snapdragon 8 Gen 1 is the world's first 5G modem RF solution to reach 10 gigabit download speeds. It's the first to include commercial 18 bit mobile image sensor in the world's first platform compliant with the Android Ready Secure Element Alliance. We also announced new mobile platforms in every Snapdragon series to address global customer demand across every smartphone tier.
In our licensing business, first quarter results reflect a favorable mix and the strength of smartphone shipments. With over 150 5G license agreements, QTL is well positioned for the future, and we continue to expect 5G to have a longer life cycle than prior generations due to its broad application across multiple industries.
Lastly, demand remained strong across all of our technologies and continues to exceed supply. Despite ongoing challenges across the global supply chain, our multi-sourcing and capacity expansion initiatives will provide incremental improvements to our supply throughout the year.
I would now like to turn the call over to Akash.