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Jun 23, 2024
Qualcomm Q3 2024 Earnings Report
Qualcomm's third quarter results reflect strong execution of its growth and diversification strategy, with QCT quarterly revenues and EBT margins at the high end of guidance.
Key Takeaways
Qualcomm announced its Q3 Fiscal Year 2024 results, with revenues of $9.4 billion. GAAP EPS was $1.88, and Non-GAAP EPS was $2.33. QCT Automotive revenues grew by 87% year-over-year.
QCT quarterly revenues and EBT margins were at the high end of guidance.
Snapdragon X Series solutions for PCs were launched, delivering leading performance and personalized AI experiences.
Returned $2.3 billion to stockholders through dividends and share repurchases.
QCT Automotive revenues increased 87% year-over-year.
Revenue by Segment
Forward Guidance
Qualcomm provided revenue guidance for Q4 FY24, with revenues expected to be between $9.5B and $10.3B.
Positive Outlook
- Revenues: $9.5B - $10.3B
- QCT revenues: $8.1B - $8.7B
- QTL revenues: $1.35B - $1.55B
- GAAP diluted EPS: $2.38 - $2.58
- Non-GAAP diluted EPS: $2.45 - $2.65
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, other than future legal amounts that are probable and estimable.
- Certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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