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Dec 25, 2022
Qualcomm Q1 2023 Earnings Report
Qualcomm announced first quarter fiscal 2023 results, with revenues of $9.5 billion and GAAP EPS of $1.98. The company delivered results consistent with guidance, including year-over-year growth in QCT Automotive and IoT, despite a challenging environment.
Key Takeaways
Qualcomm's Q1 2023 revenues reached $9.5 billion, with a GAAP EPS of $1.98 and a non-GAAP EPS of $2.37. The company saw year-over-year growth in QCT Automotive (58%) and IoT (7%).
Revenues were $9.5 billion.
GAAP EPS was $1.98, and Non-GAAP EPS was $2.37, exceeding the midpoint of the guidance range.
QCT Automotive revenues increased by 58% year-over-year.
QCT IoT revenues grew by 7% year-over-year.
Qualcomm
Qualcomm
Qualcomm Revenue by Segment
Revenue by Segment
QTL Revenue
CapyFin.comHandsets Revenue
CapyFin.comAutomotive Revenue
CapyFin.com Forward Guidance
Qualcomm provided revenue guidance for Q2 FY23, expecting revenues between $8.7B and $9.5B. GAAP diluted EPS is estimated to be between $1.53 and $1.73, while Non-GAAP diluted EPS is projected to be between $2.05 and $2.25.
Positive Outlook
- QCT revenues are expected to be between $7.4B and $8.0B.
- QTL revenues are projected to be between $1.25B and $1.45B.
- Non-GAAP diluted EPS is expected to be between $2.05 and $2.25.
- Company is focused on executing diversification strategy
- Long-term trends driving demand for differentiated technologies
Challenges Ahead
- GAAP diluted EPS is expected to be between $1.53 and $1.73.
- Outlook does not include provisions for proposed tax law changes.
- Outlook does not include provisions for future asset impairments.
- Outlook does not include provisions for pending legal matters.
- Challenging macroeconomic environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income