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Qualcomm Exceeds Q4 Expectations, Guides to Strong December Quarter

Qualcomm beats Q4 earnings expectations, reports strong revenue growth and provides positive guidance. The company is also diversifying beyond smartphones into automotive and other sectors.

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TechnologyArtificial IntelligenceInvestmentGrowthEarningsDiversification

QualcommWall StreetRefinitivLsegApple

Cristiano AmonAkash Palkhiwala

What significant financial actions did Qualcomm announce regarding its stock?: In addition to its strong financial performance, Qualcomm announced a \$15 billion share buyback program, demonstrating confidence in its future growth prospects and returning value to shareholders.
What is Qualcomm's strategy for future growth beyond its traditional smartphone business?: Qualcomm is expanding beyond its smartphone roots, investing heavily in chips for PCs, cars, and industrial machines. CEO Cristiano Amon emphasized the company's transformation into a connected computing company for the AI age.
What were Qualcomm's fourth-quarter earnings results compared to Wall Street expectations?: Qualcomm exceeded expectations in its fourth-quarter earnings, reporting higher-than-anticipated earnings per share and revenue. The company also provided strong guidance for the upcoming quarter.
What was Qualcomm's total revenue for fiscal year 2024, and how does it compare to the previous year?: Qualcomm's revenue for fiscal year 2024 reached \$33.19 billion, a 9% increase from the previous year. This growth was driven by strong performance across various segments, including handsets, automotive, and the internet of things.
How did Qualcomm's automotive business perform in the fourth quarter, and what is the outlook for the current quarter?: The company's automotive business experienced significant growth, with sales increasing by 86% year-over-year to \$899 million. Qualcomm anticipates further growth in this sector, projecting a 50% year-over-year increase in automotive sales for the current quarter.

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