What it’s essential know
- Qualcomm introduced its fiscal 12 months This autumn 2024 income with $10.2 billion for the quarter.
- Cell chipset gross sales elevated by 12%, whereas automotive grew a formidable 68% in comparison with the identical quarter in 2023.
- Qualcomm simply launched the Snapdragon 8 Elite, which is already touchdown in new smartphones from Xiaomi, OPPO, OnePlus, and extra.
Qualcomm is ending its 2024 fiscal 12 months on a excessive be aware, reporting a 12% progress in This autumn income to $10.2 billion. That brings its whole 2024 income to $39 billion, up 9% in comparison with fiscal 12 months 2023.
“We’re happy to conclude the fiscal 12 months with robust ends in the fourth quarter, delivering higher than 30% year-over-year progress in EPS,” stated Qualcomm CEO Cristiano Amon in a ready assertion.
“We’re enthusiastic about our latest product bulletins at Snapdragon Summit and Embedded World, as they proceed to increase our know-how management and place us effectively throughout Handsets, PC, Automotive and Industrial IoT. We stay up for offering an replace on our progress and diversification initiatives at our Investor Day on November 19.”
All through the quarter, Qualcomm noticed the launch of a number of flagship Android telephones using its last-gen flagship chipset, together with the Galaxy Z Flip 6, Galaxy Z Fold 6, and the Razr Plus 2024. Amazon’s first Prime Day gross sales occasion additionally doubtless contributed to spectacular headset gross sales throughout the quarter.
Qualcomm has additionally pushed closely in different markets, with its automotive options seeing a formidable 68% uptick in income and expectations that it’s going to proceed to develop in 2025, notably with the brand new Cockpit Elite. Through the earnings name on Wednesday, Amon additional highlighted the corporate’s efforts in AR/VR and partnership with Meta, with the latest launch of the Quest 3S seen as an “vital milestone in growing the dimensions of this chance.”
With the lately unveiled Snapdragon 8 Elite, Qualcomm already feels well-poised for a greater 2025, with Android OEMs already unveiling their newest flagship powered by the chip.
“We’re extraordinarily happy with this Snapdragon 8 Elite design traction with profitable launches at Xiaomi, Honor, OPPO, and Vivo,” Amon stated throughout the name.
Qualcomm CFO Akash Palkhiwala famous that this may have a optimistic affect on the corporate’s FY Q1 income. He expects year-over-year headset progress, because of “higher than 40% sequential income progress from Chinese language OEM and the acceleration of flagship Android handset launches,” notably telephones adopting the Snapdragon 8 Elite.
Amon additionally highlighted upcoming launches from ASUS and Samsung. The latter has been rumored to be contemplating adopting its Exynos chips for some Galaxy S25 fashions. That stated, the Galaxy S25 shouldn’t be anticipated to launch till Qualcomm’s FY Q2, which might assist increase gross sales following the vacation season, though that would additionally rely upon the share of Snapdragon-powered fashions.
