Qualcomm Inc (QCOM) Q4 2024 Earnings Call Highlights: Record Revenues and Strategic Growth in ...

GuruFocus News
4 min read

In This Article:

  • Non-GAAP Revenue: $10.2 billion for fiscal Q4.

  • Non-GAAP Earnings Per Share (EPS): $2.69 for fiscal Q4.

  • Chipset Business Revenue: $8.7 billion for fiscal Q4.

  • Licensing Business Revenue (QTL): $1.5 billion for fiscal Q4.

  • QTL EBT Margin: 74% for fiscal Q4.

  • QCT EBT Margin: 28% for fiscal Q4.

  • QCT Handset Revenue: $6.1 billion for fiscal Q4.

  • QCT IoT Revenue: $1.7 billion, a 24% increase from the prior quarter.

  • QCT Automotive Revenue: $899 million, with 11% sequential growth and 68% year-over-year growth.

  • Stockholder Returns: $2.2 billion, including $1.3 billion in stock repurchases and $947 million in dividends.

  • Fiscal Year 2024 Revenue: $39 billion.

  • Fiscal Year 2024 Non-GAAP EPS: $10.22, a 21% year-over-year growth.

  • Free Cash Flow: Record $11.2 billion for fiscal year 2024.

  • Cash and Marketable Securities: $13.3 billion.

  • Guidance for Q1 Fiscal 2025 Revenue: $10.5 billion to $11.3 billion.

  • Guidance for Q1 Fiscal 2025 Non-GAAP EPS: $2.85 to $3.05.

  • Guidance for QTL Revenue: $1.45 billion to $1.65 billion for Q1 Fiscal 2025.

  • Guidance for QCT Revenue: $9 billion to $9.6 billion for Q1 Fiscal 2025.

Release Date: November 06, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • Qualcomm Inc (NASDAQ:QCOM) reported strong non-GAAP revenues of $10.2 billion and earnings per share of $2.69, exceeding the high end of their guidance.

  • The company is making significant progress in its growth and diversification strategy, particularly in edge AI and connected computing.

  • Qualcomm Inc (NASDAQ:QCOM) has seen a 24% increase in IoT revenues from the prior quarter, driven by new product launches and channel inventory normalization.

  • The Snapdragon 8 Elite platform has restored performance leadership to the Android ecosystem, with successful launches by major OEMs like Xiaomi, Honor, Oppo, and Vivo.

  • Qualcomm Inc (NASDAQ:QCOM) achieved its fifth consecutive quarter of record automotive revenues, with a year-over-year growth of 68%.

Negative Points

  • The company faces potential risks from the ARM dispute, although they are confident in their license rights.

  • There is a seasonal sequential decline expected in QCT IoT revenues, consistent with previous fiscal years.

  • Qualcomm Inc (NASDAQ:QCOM) is not providing guidance beyond the first quarter, leaving uncertainty about future performance.

  • The company has no Huawei product revenue in its current quarter guidance, which could impact overall revenue growth.

  • Concerns exist about the sustainability of double-digit growth into the March quarter, particularly in the smartphone market.

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