Qualcomm announces fiscal Q4 and 2024 report with rising revenue and profits | Infinium-tech

Qualcomm completed a banner year with the release of its Q4 financial results. In the fourth quarter of the fiscal year, the company’s revenue saw a growth of 19% compared to the fourth quarter of 2023, while the net income almost doubled (+96%).

Qualcomm reports for fiscal fourth quarter 2024

This caps a strong fiscal 2024 for Qualcomm, with full-year revenue up 9% compared to 2023 and net income up 40%.

Report for the full year 2024 compared to 2023

The company paid out $947 million in dividends in Q4 2024 alone, bringing the number to $3.68 billion for the full year. Additionally, Qualcomm repurchased $1.3 billion worth of shares in the quarter and a total of $4.12 billion for the full fiscal year. The board of directors has approved another stock buyback worth $15 billion.

Financial results and guidance

The breakdown of Q4 by division is also interesting. Naturally, the handset market is the highest grossing market, bringing in revenues of $6.1 billion. The Internet of Things is in second place with $1.7 billion and automotive is growing rapidly with revenues of $899 million. For comparison, Q4 2023 figures were $5.5 billion handsets, $1.4 billion IoT, and $535 million automotive.

Phone market brings in most revenue, automotive is growing

For the first quarter of fiscal 2025, Qualcomm expects revenue to rise to $10.5 to $11.3 billion.

Qualcomm Chairman and CEO Cristiano Amon said: “We are pleased to close the fiscal year with strong fourth quarter results, driving EPS growth of more than 30% year-over-year. We are excited by our recent product announcements at Snapdragon Summit and Embedded World, as they extend our technology leadership and position us well across handset, PC, automotive and industrial IoT. We look forward to providing an update on our growth and diversification initiatives at our Investor Day on November 19.

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