"The automotive sector is becoming a major contributor to our revenue, with significant wins reflecting our diversification strategy." - Cristiano Amon.
— Cristiano Amon
03Detailed Report
QCOM
QUALCOMM Incorporated
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 15, 2026
Swipe to view all report sections
Executive Summary
In Q3 2024, QUALCOMM Incorporated delivered robust financial results with revenues amounting to $9.4 billion, showing a sequential increase in their chipset business. The solid performance reflects a diversification strategy that is yielding positive results across automotive, internet of things (IoT), and Snapdragon mobile platforms. Notably, net income reached $2.13 billion, corresponding to a diluted EPS of $1.88. Management remains optimistic for continued growth, particularly in the automotive sector where significant design wins were achieved. Future guidance suggests a stable performance through Q4, thus enhancing confidence in QUALCOMM's resilience amid industry transitions.
Management’s commentary underscored the importance of on-device AI integration across various products, with anticipated growth in sectors such as automotive computing and consumer devices further sharpening their competitive edge against peers.
Key Performance Indicators
Revenue
Increasing
9.39B
QoQ: 0.04% | YoY: 11.15%
Gross Profit
Increasing
5.22B
55.56% margin
QoQ: -1.21% | YoY: 12.02%
Operating Income
Increasing
2.30B
QoQ: -1.88% | YoY: 25.95%
Net Income
Increasing
2.13B
QoQ: -8.47% | YoY: 18.08%
EPS
Increasing
1.91
QoQ: -8.17% | YoY: 17.90%
Revenue Trend
Margin Analysis
Financial Highlights
### Financial Performance Highlights
1. Revenue and Earnings
- Total Revenue: $9.4 billion, up 11.15% YoY and 0.04% QoQ.
- Net Income: $2.13 billion, an 18.08% increase YoY; EPS at $1.88 reflects a 17.90% YoY increase.
2. Segment Performance
- Qualcomm CDMA Technologies (QCT): Generated $8.1 billion with a notable 34% QoQ growth in automotive revenues (specifically to $811 million).
- Qualcomm Technology Licensing (QTL): Reported revenues of $1.3 billion with an EBT margin of 70%.
3. Profitability Ratios
- Gross Profit Margin: 55.6%
- Operating Income Margin: 24.4%
- Net Profit Margin: 22.7%
4. Cash Flow and Balance Sheet
- Net Cash Provided by Operating Activities: $3.052 billion, with Free Cash Flow at $2.665 billion.
- Total Assets: $52.74 billion, Total Liabilities: $28.07 billion, with a strong equity position at $24.67 billion, signifying financial health and liquidity.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
9.39B
11.15%
0.04%
Gross Profit
5.22B
12.02%
-1.21%
Operating Income
2.30B
25.95%
-1.88%
Net Income
2.13B
18.08%
-8.47%
EPS
1.91
17.90%
-8.17%
Key Financial Ratios
Gross Profit Margin
Good
55.60%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Good
24.40%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Excellent
22.70%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
4.04%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
8.63%
Return on equity is acceptable but below top-tier companies
Current Ratio
Healthy
2.39
Current ratio shows adequate liquidity to meet short-term obligations
Debt to Equity
Moderate
0.59
Debt-to-equity indicates balanced capital structure with manageable debt
P/E Ratio
Growth
26.32x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
High Premium
9.09x
Very high premium suggests asset-light business model or lofty expectations
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.