What you might want to know
Qualcomm introduced its fiscal yr This fall 2024 income with $10.2 billion for the quarter.
Cell chipset gross sales elevated by 12%, whereas automotive grew a powerful 68% in comparison with the identical quarter in 2023.
Qualcomm simply launched the Snapdragon 8 Elite, which is already touchdown in new smartphones from Xiaomi, OPPO, OnePlus, and extra.
Qualcomm is ending its 2024 fiscal yr on a excessive be aware, reporting a 12% development in This fall income to $10.2 billion. That brings its whole 2024 income to $39 billion, up 9% in comparison with fiscal yr 2023.
“We’re happy to conclude the fiscal yr with sturdy ends in the fourth quarter, delivering higher than 30% year-over-year development in EPS,” mentioned Qualcomm CEO Cristiano Amon in a ready assertion.
“We’re enthusiastic about our latest product bulletins at Snapdragon Summit and Embedded World, as they proceed to increase our know-how management and place us nicely throughout Handsets, PC, Automotive and Industrial IoT. We sit up for offering an replace on our development and diversification initiatives at our Investor Day on November 19.”
All through the quarter, Qualcomm noticed the launch of a number of flagship Android telephones using its last-gen flagship chipset, together with the Galaxy Z Flip 6 , Galaxy Z Fold 6 , and the Razr Plus 2024 . Amazon’s first Prime Day gross sales occasion additionally possible contributed to spectacular headset gross sales in the course of the quarter.
Qualcomm has additionally pushed closely in different markets, with its automotive options seeing a powerful 68% uptick in income and expectations that it’ll proceed to develop in 2025, significantly with the brand new Cockpit Elite . Through the earnings name on Wednesday, Amon additional highlighted the corporate’s efforts in AR/VR and partnership with Meta, with the latest launch of the Quest 3S seen as an “vital milestone in rising the size of this chance.”
(Picture credit score: Qualcomm)
With the not too long ago unveiled Snapdragon 8 Elite , Qualcomm already feels well-poised for a greater 2025, with Android OEMs already unveiling their newest flagship powered by the chip.
“We’re extraordinarily happy with this Snapdragon 8 Elite design traction with profitable launches at Xiaomi, Honor, OPPO, and Vivo,” Amon mentioned in the course of the name.
Qualcomm CFO Akash Palkhiwala famous that this can have a constructive impression on the corporate’s FY Q1 income. He expects year-over-year headset development, due to “higher than 40% sequential income development from Chinese language OEM and the acceleration of flagship Android handset launches,” significantly telephones adopting the Snapdragon 8 Elite.
Amon additionally highlighted upcoming launches from ASUS and Samsung. The latter has been rumored to be contemplating adopting its Exynos chips for some Galaxy S25 fashions . That mentioned, the Galaxy S25 will not be anticipated to launch till Qualcomm’s FY Q2, which might assist increase gross sales following the vacation season, though that would additionally rely on the share of Snapdragon-powered fashions.
