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Dec 24, 2023
Qualcomm Q1 2024 Earnings Report
Qualcomm's Q1 2024 performance exceeded expectations, driven by strong revenues and EPS.
Key Takeaways
Qualcomm announced strong first quarter fiscal 2024 results, with revenues reaching $9.9 billion and GAAP EPS at $2.46. The company's performance exceeded the high end of its guidance range, driven by Snapdragon platforms and technology differentiation.
Revenues reached $9.9 billion, a 5% increase year-over-year.
GAAP EPS was $2.46, and Non-GAAP EPS was $2.75, both exceeding guidance.
QCT Automotive achieved record quarterly revenues.
The company returned $1.7 billion to stockholders through dividends and share repurchases.
Qualcomm
Qualcomm
Qualcomm Revenue by Segment
Revenue by Segment
QTL Revenue
CapyFin.comHandsets Revenue
CapyFin.comAutomotive Revenue
CapyFin.com Forward Guidance
Qualcomm provided guidance for Q2 FY24 with revenue estimated between $8.9B and $9.7B and Non-GAAP diluted EPS between $2.20 and $2.40.
Positive Outlook
- Revenue between $8.9B and $9.7B
- QCT revenues between $7.6B and $8.2B
- QTL revenues between $1.2B and $1.4B
- GAAP diluted EPS between $1.73 and $1.93
- Non-GAAP diluted EPS between $2.20 and $2.40
Challenges Ahead
- 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.
- Certain income and expense items cannot be accurately forecast.
- Actual results may differ materially from the outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income