Qualcomm releases Q4 financial results, made US$10.1 billion in 2024
The CEO also squeezed in a reference to the Snapdragon 8 Elite, even though the processor’s announcement doesn’t fall within its 2024 fiscal year. #qualcomm #snapdragon8elite #huat
Qualcomm presenting the Snapdragon 8 Elite at Snapdragon Summit 2024. Photo: HWZ.
Qualcomm just released their Q4 and fiscal year 2024 results, headlining the announcement with its US$39 billion revenue for the year that ended on 29 September 2024.
In its official statement, Christiano Amon, President and CEO of Qualcomm Incorporated, said the company saw a 30% year-on-year growth in EPS (earnings per share). The accompanying earnings release (PDF) stated that the company is US$8.97 per share, with considerations to GAAP (generally accepted accounting principles).
Its fiscal 2024 net income (money after expenses, the actual profit) is US$10.142 billion.
Qualcomm's handset revenue stream stands at the top of their portfolio, but it also highlighted its automotive business is picking up rapidly. Image: Qualcomm.
A bulk of Qualcomm’s revenue comes from its QCT (Qualcomm semiconductor business), with the financial release showing US$24.863 billion worth of revenue streaming in from handsets alone. The rest comes from its combined automotive, IoT, and licensing businesses.
Naturally, a part of this stems from the inclusion of high-end Qualcomm mobile platforms (phone processors) in several top phone-making brands, such as 2024 flagship phones like Xiaomi 14 Ultra (review here), Samsung Galaxy S24 Ultra (review here), Samsung Galaxy Z Fold6 (review here), Honor Magic6 Pro (review here), and more.
Qualcomm calls out the Snapdragon 8 Elite, which will populate 2025 Android flagship phones. Image: Qualcomm.
In its earnings presentation, Qualcomm highlighted the next steps of its business, once again demonstrating the Snapdragon 8 Elite mobile platform, designated as the flagship offering for 2025 Android phones, as announced at Snapdragon Summit 2024.
It also highlighted its new automotive and AI PC offerings, with all major platform products touting its in-house CPU, Oryon CPU.
However, all these successes are not without their casualties. Earlier in September, before the fiscal year ended, Qualcomm retrenched 226 employees in its engineering HQ.
Source: Qualcomm
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