Summary by Moomoo AI
On May 1, 2024, Qualcomm Incorporated released its financial results for the second quarter of fiscal year 2024. The company reported revenues of $9.4 billion, a slight increase from the previous year's $9.275 billion. GAAP earnings per share (EPS) were $2.06, while Non-GAAP EPS stood at $2.44. Qualcomm's QCT Automotive segment saw a significant design win pipeline, now valued at approximately $45 billion, and the company increased its quarterly cash dividend to an annualized payout of $3.40 per share. The QCT segment, which includes handsets, automotive, and IoT, brought in $8.026 billion in revenue, with automotive revenue growing by 35% to $603 million. However, IoT revenue saw an 11% decrease. The company also returned $1.6 billion to stockholders through dividends and share repurchases. Looking ahead, Qualcomm provided guidance for the third quarter of fiscal 2024, estimating revenues between $8.8 billion and $9.6 billion, and Non-GAAP diluted EPS between $2.15 and $2.35. The earnings call was broadcast live, and the company emphasized the inclusion of Non-GAAP financial measures to provide useful information to investors.