Qualcomm Announces Fourth Quarter and Fiscal 2024 Results. Fiscal 2024 GAAP Revenues: $39.0 billion. Fiscal 2024 GAAP EPS: $8.97, Non-GAAP EPS: $10.22

SAN DIEGO--(BUSINESS WIRE)-- Qualcomm Incorporated (NASDAQ: QCOM) today announced the Company’s financial results for its fourth quarter and fiscal 2024 through an earnings release that is available on the Qualcomm Investor Relations website at https://investor.qualcomm.com/financial-information. The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at http://www.sec.gov.

As previously announced, Qualcomm will host a conference call to discuss its fourth quarter and fiscal 2024 results which will be broadcast live on November 6, 2024, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events. An audio replay will be available at https://investor.qualcomm.com/news-events/investor-events and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13749366.

Our Investor Relations website at https://investor.qualcomm.com contains a significant amount of information about us, including financial and other information for investors, and it is possible that this information could be deemed to be material information. Accordingly, investors and others interested in Qualcomm should review the information posted on our website in addition to following our press releases, SEC filings and public conference calls and webcasts.

Fiscal 2024 GAAP Revenues: $39.0 billion

Fiscal 2024 GAAP EPS: $8.97, Non-GAAP EPS: $10.22

—Greater Than 20% Growth in Fiscal Year EPS—

—Record Fiscal Year Operating Cash Flow—

—QCT Automotive: 5th Consecutive Record Quarterly Revenues—

SAN DIEGO - November 6, 2024 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal fourth quarter and year ended September 29, 2024.

“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,” said Cristiano Amon, President and CEO of Qualcomm Incorporated.

Fourth Quarter Results

GAAP	Non-GAAP	Q4 Fiscal 2024	Q4 Fiscal 2023	Change
Revenues	$10,244 million	$8,631 million	+19%
Earnings before taxes (EBT)	$2,597 million	$1,420 million	+83%
Net income	$2,920 million	$1,489 million	+96%
Diluted EPS	$2.59	$1.32	+96%

Fiscal 2024 Results

GAAP	Non-GAAP	Fiscal 2024	Fiscal 2023	Change
Revenues	$38,962 million	$35,820 million	+9%
EBT	$10,336 million	$7,443 million	+39%
Net income	$10,142 million	$7,232 million	+40%
EPS	$8.97	$6.42	+40%

Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.”

Segment Results

Fourth Quarter

Segment	Q4 Fiscal 2024	Q4 Fiscal 2023	Change
QCT Revenues	$8,678 million	$7,374 million	+18%
QTL Revenues	$1,521 million	$1,262 million	+21%

Return of Capital to Stockholders

The following table summarizes our return of capital to stockholders, through stock repurchases and cash dividends, during the fourth quarter and fiscal 2024.

Stock Repurchases	Dividend Paid	Total Amount
Q4 Fiscal 2024	$1,302 million	$947 million	$2,249 million
Fiscal 2024	$4,121 million	$3,687 million	$7,808 million

Business Outlook

Forward-looking statements are included in this section, and actual results may differ materially.

Current Guidance	Q1 FY25 Estimates
Revenues	$10.5B - $11.3B
QCT revenues	$9.0B - $9.6B

About Qualcomm

Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon^® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated. For more information, visit www.qualcomm.com.

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Qualcomm Contact:

Mauricio Lopez-Hodoyan, Investor Relations

Phone: 1-858-658-4813

Email: ir@qualcomm.com

Source: Qualcomm Incorporated