Semiconductor giant Qualcomm posted its fourth-quarter earnings on Wednesday.
The results for the quarter and the full year were better than Wall Street had expected, sending the stock up by as much as 10% in extended trading.
Here’s a look at its Q4 and full year results:
Q4 breakdown (non-GAAP)
- Total revenue: $10.24 billion, up 18% compared to the same quarter last year.
- Net Income: $3 billion, up 33% from $2.3 billion last year.
FY2024 breakdown (non-GAAP)
- Total Revenue: $38.94 billion, a 9% increase compared to FY2023.
- Non-GAAP Net Income: $11.54 billion, up 22% compared to FY2023.
Segment Performance in Q4:
- QCT (Qualcomm CDMA Technologies): The semiconductor division achieved $8.7 billion in revenue, with automotive sales increasing by 68% compared to the previous year, totaling $899 million. The mobile device sector contributed $6.1 billion, up 12%. While the IoT division generated $1.68 billion, up 22%.
- QTL (Qualcomm Technology Licensing): Qualcomm’s licensing division generated sales of $1.52 billion, up 21% increase from last year.
Qualcomm CEO Cristiano Amon said in the company’s earnings announcement, “We are pleased to conclude the fiscal year with strong results in the fourth quarter, delivering greater than 30% year-over-year growth in EPS.”
Amon was optimistic about the company’s recent product launches, which he said “will position us well across Handsets, PC, Automotive and Industrial IoT.”
For the first quarter of 2025 the company expects revenue of between $10.5 billion and $11.3 billion, with non-GAAP EPS in the $2.85 and $3.05 range.
Reference: Qualcomm Announces Fourth Quarter and Fiscal 2024 Results [PDF]