Second Quarter Fiscal 2024 Earnings May 1, 2024 Note Regarding Forward-Looking Statements In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to: statements regarding our growth and diversification opportunities, including those in Automotive, IoT and the artificial intelligence (AI) space; our business, product and technology strategies, including ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Financial Performance - Total revenues for the three months ended March 24, 2024, were $9,389 million, an increase of 1.2% from $9,275 million for the same period last year[19] - Operating income for the three months ended March 24, 2024, was $2,340 million, up 11.9% from $2,090 million in the prior year[19] - Net income for the three months ended March 24, 2024, reached $2,326 million, compared to $1,704 million for the same period last year, reflecting a year-over-year increase of 36.5%[19] - The company reported a basic earnings per share of $2.08 for the three months ended March 24, 2024, compared to $1.53 for the same period last year[19] - Comprehensive income for the six months ended March 24, 2024, was $5,173 million, up from $4,379 million in the same period last year, reflecting a 18.1% increase[21] - Net cash provided by operating activities for the six months ended March 24, 2024, was $6,503 million, compared to $4,552 million for the same period in 2023, indicating a 42.8% increase[23] - Total earnings before income taxes (EBT) for the three months ended March 24, 2024, was $2,498 million, an increase of 31.87% from $1,895 million for the same period in 2023[48] Assets and Liabilities - Cash and cash equivalents increased to $9,219 million as of March 24, 2024, from $8,450 million on September 24, 2023[18] - Total current assets rose to $24,232 million as of March 24, 2024, compared to $22,464 million on September 24, 2023[18] - Total liabilities decreased to $28,698 million as of March 24, 2024, from $29,459 million on September 24, 2023[18] - The company’s total assets increased to $53,167 million as of March 24, 2024, from $51,040 million on September 24, 2023[18] - Total stockholders' equity at the end of the period was $24,469 million, up from $19,698 million a year earlier, marking a 24.3% increase[25] Research and Development - Research and development expenses for the three months ended March 24, 2024, were $2,236 million, slightly higher than $2,210 million in the same quarter last year[19] Dividends - Dividends paid during the six months ended March 24, 2024, totaled $1,790 million, compared to $1,676 million in the same period last year, reflecting a 6.8% increase[23] - The company announced a dividend per share of $0.80 for the current period, up from $0.75 in the same period last year, an increase of 6.7%[25] - The quarterly dividend per share was increased from $0.80 to $0.85, effective for dividends payable after March 21, 2024[40] Revenue Breakdown - Total QCT revenues for the three months ended March 24, 2024, were $8,026 million, a 1.06% increase from $7,942 million in the same period last year[33] - Handset revenues for the three months ended March 24, 2024, reached $6,180 million, up from $6,105 million year-over-year[33] - Automotive revenues increased to $603 million for the three months ended March 24, 2024, compared to $447 million in the same period last year, representing a 34.93% growth[33] - IoT revenues decreased to $1,243 million for the three months ended March 24, 2024, down from $1,390 million year-over-year, a decline of 10.59%[33] - Revenues recognized from previously satisfied performance obligations were $55 million for the three months ended March 24, 2024, compared to $170 million in the same period last year[33] - QCT segment revenue for the three months ended March 24, 2024, was $8,026 million, a 1.06% increase from $7,942 million for the same period in 2023[48] - QTL segment revenue for the three months ended March 24, 2024, was $1,318 million, a 2.17% increase from $1,290 million for the same period in 2023[48] Cash Flow and Expenditures - The company reported a total of $9,219 million in cash and cash equivalents at the end of the period, compared to $3,782 million at the end of the same period last year, a significant increase of 143.5%[23] - The company incurred capital expenditures of $398 million for the six months ended March 24, 2024, down from $851 million in the same period in 2023, a decrease of 53.3%[23] Risks and Legal Matters - The company continues to face risks related to customer concentration, particularly in China, and potential impacts from U.S./China trade tensions[7] - The company has not recorded any accrual for contingent losses associated with pending legal matters as of March 24, 2024[46] - Trial for the ongoing litigation with Arm Ltd. is scheduled to begin on December 16, 2024[47] Marketable Securities - Marketable securities totaled $4,632 million as of March 24, 2024, with corporate bonds and notes comprising a significant portion[51] - The aggregate fair value of Qualcomm's outstanding fixed-rate notes was approximately $14.8 billion as of March 24, 2024[51] - The contractual maturities of available-for-sale debt securities included $1,728 million maturing in less than one year and $2,367 million maturing in one to five years[52] Derivative Instruments - The company reported a net unrealized loss on derivative instruments of $13 million for the three months ended March 24, 2024, compared to a gain of $16 million in the same period last year[21]

Exhibit 99.1 FOR IMMEDIATE RELEASE Qualcomm Contact: Mauricio Lopez-Hodoyan Vice President, Investor Relations Phone: 1-858-658-4813 | e-mail: ir@qualcomm.com Qualcomm Announces Second Quarter Fiscal 2024 Results Revenues: $9.4 billion GAAP EPS: $2.06, Non-GAAP EPS: $2.44 —QCT Automotive: Design Win Pipeline Now Approximately $45 Billion1— —Increased Quarterly Cash Dividend to $3.40 Annualized Payout Per Share— SAN DIEGO - May 1, 2024 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fi ...

Qualcomm has a multibillion-dollar buyback, but it's not the shareholder windfall you might think.Tech giant Qualcomm (QCOM -1.98%) makes leading modem chips for smartphones and owns the key patents in cellular technology. Qualcomm has also recently invested in new growth markets such as automotive and Internet of Things chips.As a large technology blue chip stock, Qualcomm has also been a regular repurchaser of its own stock. But how effective have these repurchases really been?$2.05 billion, but there's a ...

Investors are always looking for stocks that are poised to beat at earnings season and Qualcomm Incorporated (QCOM) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Qualcomm is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty goo ...

Qualcomm Incorporated (QCOM) shares have witnessed a steady uptrend since November 2023 barring minor hiccups, with the ebb and flow attributable to various macroeconomic developments and corporate achievements. While such ups and downs are part of a stock’s progression, the sudden turn of events often tests the stock's inherent strength to withstand the storm and its ability to come up trumps. We believe that Qualcomm has the requisite wherewithal to emerge victorious from the apparent upheaval and strike ...

In its upcoming report, Qualcomm (QCOM) is predicted by Wall Street analysts to post quarterly earnings of $2.30 per share, reflecting an increase of 7% compared to the same period last year. Revenues are forecasted to be $9.32 billion, representing a year-over-year increase of 0.5%.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this p ...

A worker inspects a circuit board for a smartphone at Dixon Technologies' Padget Electronics Pvt factory in Noida, Uttar Pradesh, India, on Thursday, Jan. 28, 2021. Dixon boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones this year. Photographer: Anindito Mukherjee/Bloomberg via Getty ImagesQualcomm is already designing chips in India as it taps on the country's pool of talented engineers, Qualcomm India's president said in an exclusive interview."We alr ...

Wall Street watches a company's quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.Life and the stock market are both about expectations, and rising above what is expected is often rewarded, while falling short can come with negative consequences. Investors might want to try to capture stronger returns by finding positive earnings surprises.Now that we know how important ear ...