Qualcomm completes a banner year with the release of fourth-quarter financial results. In the fiscal fourth quarter, the company saw its revenue increase 19% compared to the fourth quarter of 2023, while net income nearly doubled (+96%).
Qualcomm report for the fourth fiscal quarter of 2024
This capped a strong fiscal 2024 for Qualcomm, with full-year revenue up 9% versus 2023 and net profit up 40%.
Complete report year 2024 compared to 2023
The company paid $947 million in dividends in the fourth quarter of 2024 alone, for the full year the figure stands at $3.68 billion. Additionally, Qualcomm repurchased $1.3 billion worth of shares this quarter and a total of $4.12 billion for the full fiscal year. The Board of Directors approved an additional share buyback in the amount of $15 billion.
Financial results and guidance
The breakdown of the fourth quarter by division is also interesting. Of course, the cell phone market is the biggest gainer, with revenue of $6.1 billion. The Internet of Things follows with $1.7 billion, while the automotive sector is growing rapidly with revenues of $899 million. For comparison, the numbers for Q4 2023 were $5.5 billion for cellular, $1.4 billion for IoT, and $535 million for automotive.
The telephony market is the one that generates the most revenue, the automotive market is growing
According to the outlook for the first quarter of the 2025 financial year, Qualcomm expects revenues to grow from $10.5 billion to $11.3 billion.
Cristiano Amon, President and CEO of Qualcomm, said: “We are pleased to conclude the fiscal year with strong fourth quarter results, with EPS growth exceeding 30% year-over-year. We are excited about our recent product announcements at Snapdragon Summit and Embedded World, as they continue to extend our technology leadership and position us well in phones, PCs, automotive and industrial IoT. We look forward to providing an update on our growth and diversification initiatives during Investor Day on November 19.”
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