Qualcomm Stock Q2 2024 Financial Results

Qualcomm Stock (QCOM) has unveiled its financial performance for the second quarter of the 2024 fiscal year. Let’s delve into the numbers and strategic initiatives that define Qualcomm Stock trajectory.

Qualcomm Stock Earnings and Revenue Snapshot

In Q2 2024, Qualcomm recorded a revenue of $9.4 billion. The earnings per share under GAAP standards were $2.06, while non-GAAP earnings per share stood at $2.44, surpassing expectations.

Qualcomm Dividend Payouts

Notably, Qualcomm increased its quarterly cash dividends to $3.40 per share on an annual basis. The company’s earnings per share exceeded forecasts, signaling confidence in its financial stability.

Record-breaking QCT Automotive Revenues

QCT Automotive witnessed record revenues for the third consecutive quarter, indicating sustained growth and market leadership in this segment.

Innovations Driving Future Growth

Qualcomm upcoming launch of the Snapdragon X platform and the integration of advanced AI capabilities across various product categories are poised to strengthen the company’s market position. These innovations underscore Qualcomm’s commitment to driving technological advancements and fostering widespread adoption of intelligent computing solutions.

Returning Value to Qualcomm Shareholders

During Q2 2024, Qualcomm returned $1.6 billion to shareholders. This included $895 million in cash dividends, equivalent to $0.80 per share, and $731 million allocated towards repurchasing 5 million common shares.

Continued Innovation for Global Impact

Qualcomm remains dedicated to relentless innovation, aiming to address some of the world’s most pressing challenges through widespread adoption of intelligent computing solutions.

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