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Sep 24, 2023
Qualcomm Q4 2023 Earnings Report
Announced fourth quarter and fiscal year 2023 results, exceeding revenue guidance and demonstrating technology leadership.
Key Takeaways
Qualcomm's Q4 2023 revenues reached $8.631 billion, with a GAAP EPS of $1.32 and non-GAAP EPS of $2.02. The company's QCT Automotive sector achieved record quarterly and fiscal year revenues. As they enter fiscal year 2024, Qualcomm is optimistic about their product roadmap and execution.
Q4 revenues exceeded the midpoint of the guidance range.
QCT Automotive achieved record quarterly and fiscal year revenues.
Qualcomm is positioned as a leader in on-device generative AI and mobile computing performance.
Fiscal year 2023 revenues totaled $35.8 billion.
Revenue by Segment
Forward Guidance
Qualcomm anticipates revenues between $9.1 billion and $9.9 billion for Q1 FY24. QCT revenues are expected to be between $7.7B - $8.3B and QTL revenues between $1.3B - $1.5B. Non-GAAP diluted EPS is projected to be $2.25 - $2.45.
Positive Outlook
- Revenue guidance between $9.1B and $9.9B
- QCT revenue guidance between $7.7B and $8.3B
- QTL revenue guidance between $1.3B and $1.5B
- GAAP diluted EPS between $1.82 and $2.02
- Non-GAAP diluted EPS between $2.25 and $2.45
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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