As a tech enthusiast who has been following Qualcomm (QCOM) for years, I must say that their Q4 2024 earnings report is nothing short of impressive! The company’s ability to consistently deliver strong results, particularly in the face of ever-evolving technology, is truly commendable.
On Wednesday afternoon, Qualcomm (QCOM) disclosed its Q4 2024 financial results. The tech firm surpassed the EPS and revenue forecasts made by analysts on Wall Street. Qualcomm announced a quarterly income of $10.2 billion USD, which was more than the anticipated $9.9 billion by analysts.
In a nutshell, Cristiano Amon, Qualcomm’s President and CEO, expressed satisfaction in closing the fiscal year with robust fourth-quarter performance, marking a more than 30% increase in EPS compared to the previous year. Furthermore, he highlighted their enthusiasm over the latest product introductions at Snapdragon Summit and Embedded World, which have reinforced our technological dominance across various sectors such as Handsets, PC, Automotive, and Industrial IoT. He also hinted at a future update on our growth and diversification strategies during Qualcomm’s Investor Day scheduled for November 19.
In Q4 of 2024, Qualcomm’s projected revenue is on the high side, as stated in their previous report. This optimistic forecast is backed by a strong $6.1 billion in sales from diverse handsets, which utilize the Snapdragon 8 Elite chipset. The company has celebrated successful launches with international brands such as Xiaomi, Honor, Oppo, and Vivo. They anticipate similar success with domestic companies like Samsung and ASUS.
Based on the Q4 2024 financial report, Qualcomm anticipates generating a revenue between $10.5 billion and $11.3 billion for the upcoming quarter. Notably, they are also promoting the Snapdragon 8 Elite chipset for mobile devices, as well as the Snapdragon X Series chipset, which is instrumental in powering Windows PCs and the Microsoft Copilot AI platform.
Qualcomm (QCOM) concluded the regular trading session with an increase of $7.08 per share, and it’s still climbing during post-market hours.
On Wednesday, you can expect to see Quarterly Earnings Reports from Qualcomm alongside other companies. Stay tuned with us at Shacknews as we bring you the latest news and headlines!
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2024-11-07 00:57