\nRevenue Performance: For Q1 2024, QUALCOMM reported total revenues of $9.9 billion, representing a 15.1% QoQ increase and 4.99% YoY growth. This growth was led by the QCT segment, which generated $8.4 billion in revenues (up from $6.7 billion from handsets), driven by increased Android demand and automotive chipset applications.
\nProfitability: Gross profit for the quarter was $5.62 billion, yielding a gross margin of 56.6%. Operating income reached $2.93 billion with an operating margin of 29.5%, signaling effective cost management amid increased revenues. Net income increased to $2.77 billion, translating to an EPS of $2.48, reflecting a solid 24.6% YoY increase.
\nBalance Sheet Health: The company maintained a balanced position with total assets of $52.1 billion and total liabilities of $29.1 billion, resulting in a significant equity of $23 billion. QUALCOMM's cash and short-term investments totaled $12.05 billion, providing a strong liquidity position, essential for ongoing investments in R&D and market expansions.
\nCash Flow: Q1 2024 saw net cash provided by operating activities of $2.95 billion, highlighting robust operational cash flow generation capabilities, despite net cash used in investing activities of $1.26 billion and financing activities of $2.04 billion. QUALCOMM returned $1.7 billion to shareholders through stock buybacks and dividends, underscoring commitment to shareholder value.