Qualcomm reported an extremely successful fiscal fourth quarter
By ForGeeks Qualcomm has completed a successful fiscal year, reporting fourth quarter 2024. The company’s revenue increased by 19% over the same period in 2023, while net income nearly doubled (+96%). For the full fiscal year, revenue grew 9% over 2023, and net income increased 40%.
Financial Performance and Return of Capital to Shareholders
The company paid a dividend of $947 million for the most recent quarter and $3.68 billion for the full fiscal 2024. In addition, Qualcomm repurchased $1.3 billion worth of its own stock in the fourth quarter and $4.12 billion for the year. The board also authorized an additional $15 billion in share repurchases as part of its strategy to return capital to shareholders.
Additional Share Repurchases.
Revenues by Line of Business
The largest revenue in the fourth quarter came from the Mobile Devices sector, which brought in $6.1 billion. This was followed by the Internet of Things (IoT) with $1.7 billion and the rapidly growing automotive sector, which reached $899 million (compared to $5.5 billion, $1.4 billion and $535 million in Q4 2023, respectively).
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Fiscal Year 2025 Outlook
In the first quarter of fiscal 2025, Qualcomm expects revenues to reach $10.5-$11.3 billion. In October, the company announced new products at Snapdragon Summit and Embedded World, which CEO Cristiano Amon said reinforces its leadership in the mobile, PC, automotive and industrial Internet of Things segments.
Snapdragon Summit and Embedded World.
Amon said, “We are pleased to end the fiscal year with strong results in the fourth quarter, reporting more than 30% year-over-year EPS growth. New product announcements strengthen our technology position in key segments, and we are ready to provide updates on growth and diversification initiatives at our Investor Day on November 19.”
These results underscore Qualcomm’s successful expansion and diversification strategy, supporting its presence in key markets.
