Qualcomm Q2 2023 Earnings Report
Key Takeaways
Qualcomm's Q2 fiscal 2023 results showed a decline in revenue and earnings compared to the previous year. While navigating a challenging environment, the company remains focused on its technology roadmap, product portfolio, customer relationships, and operational efficiencies. The company returned $1.7 billion to stockholders through dividends and share repurchases.
Revenues were $9.3 billion.
GAAP EPS was $1.52, and Non-GAAP EPS was $2.15.
QCT Automotive revenues increased by 20% year-over-year.
The quarterly cash dividend increased by 7% to $3.20 annualized payout.
Qualcomm
Qualcomm
Qualcomm Revenue by Segment
Forward Guidance
The midpoint of our third quarter fiscal 2023 guidance includes the continued impact of the macroeconomic headwinds, weaker global handset units, and channel inventory drawdown. In addition, we estimate a larger-than-normal sequential decline in QCT revenues, primarily due to the timing of purchases by a modem-only handset customer.
Challenges Ahead
- Continued impact of macroeconomic headwinds
- Weaker global handset units
- Channel inventory drawdown
- Larger-than-normal sequential decline in QCT revenues
- Timing of purchases by a modem-only handset customer