Qualcomm reported a strong end to fiscal year 2024, with GAAP revenue reaching $39.0 billion and GAAP earnings per share (EPS) at $8.97, complemented by a Non-GAAP EPS of $10.22. These results reflect a 20% EPS growth year-over-year and a record annual operating cash flow. For Q4, Qualcomm recorded a 19% revenue increase from the prior year, reaching $10.2 billion, while net income surged 96% to $2.92 billion, driven by notable gains across key business areas.
Qualcomm’s QCT (Qualcomm CDMA Technologies) Automotive division reported its fifth consecutive quarter of record revenue, up 68% year-over-year for Q4 and contributing to an annual revenue increase of 55% for this segment. Other significant growth areas include Handsets, with a 12% increase in Q4 revenue, and IoT, which saw a 22% rise. The company’s return of capital to shareholders for the quarter included stock repurchases and cash dividends, supporting sustained investor engagement.
- Revenue: Fiscal 2024 GAAP revenue of $39.0 billion, a 9% increase YoY
- EPS: Fiscal 2024 GAAP EPS at $8.97; Non-GAAP EPS at $10.22
- Net Income: 96% YoY increase in Q4 net income, reaching $2.92 billion
- Automotive: 68% YoY Q4 revenue growth; 55% annual increase
- Handsets: 12% YoY growth in Q4 revenue
- IoT: 22% YoY growth in Q4 revenue
Cristiano Amon, President and CEO of Qualcomm, commented, “We are pleased to conclude the fiscal year with strong results, delivering greater than 30% year-over-year growth in EPS. Our recent product announcements position us well across Handsets, PC, Automotive, and Industrial IoT.”
