Q4 2024 Qualcomm Inc Earnings Call Transcript
Key Points
- Qualcomm Inc (QCOM) reported strong non-GAAP revenues of $10.2 billion and earnings per share of $2.69, exceeding the high end of their guidance.
- The company is making significant progress in its growth and diversification strategy, particularly in edge AI and connected computing.
- Qualcomm Inc (QCOM) has seen a 24% increase in IoT revenues from the prior quarter, driven by new product launches and channel inventory normalization.
- The Snapdragon 8 Elite platform has restored performance leadership to the Android ecosystem, with successful launches by major OEMs like Xiaomi, Honor, Oppo, and Vivo.
- Qualcomm Inc (QCOM) achieved its fifth consecutive quarter of record automotive revenues, with a year-over-year growth of 68%.
- The company faces potential risks from the ARM dispute, although they are confident in their license rights.
- There is a seasonal sequential decline expected in QCT IoT revenues, consistent with previous fiscal years.
- Qualcomm Inc (QCOM) is not providing guidance beyond the first quarter, leaving uncertainty about future performance.
- The company has no Huawei product revenue in its current quarter guidance, which could impact overall revenue growth.
- Concerns exist about the sustainability of double-digit growth into the March quarter, particularly in the smartphone market.
Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm fourth quarter and fiscal 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded, November 6, 2024.
The playback number for today's call is 877-660-6853. International callers, please dial 201-612-7415. The playback reservation number is 13749366.
I would now like on the call over to Mauricio Lopez-Hodoyan, Vice President of Investor Relations. Mr. Lopez-Hodoyan, please go ahead.
Thank you, and good afternoon, everyone. Today's call will include prepared remarks by Cristiano Renno Amon and Akash Palkhiwala. In addition, Alex Rogers will join the question-and-answer session.
You can access our earnings release and slide presentation that accompany this call on our Investor Relations website. In addition, this call is being webcast on qualcomm.com, and a replay will be available on our website later today.
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