Summary by Moomoo AI
On July 31, 2024, Qualcomm Incorporated released its financial results for the third quarter of fiscal year 2024, showcasing strong performance with an 11% increase in revenues to $9.4 billion compared to the previous year. The company reported a GAAP EPS of $1.88 and a Non-GAAP EPS of $2.33, indicating a significant year-over-year growth in earnings before taxes (EBT) of over 20%. Notably, Qualcomm's QCT Automotive segment experienced an impressive 87% growth in revenues year-over-year. The results reflect Qualcomm's successful execution of its growth and diversification strategy, including the launch of Snapdragon X Series solutions for PCs. The company returned $2.3 billion to stockholders through dividends and share repurchases during the quarter. Qualcomm's forward-looking statements for the fourth quarter of fiscal 2024 estimate revenues between $9.5 billion and $10.3 billion, with a GAAP diluted EPS of $2.38 to $2.58 and a Non-GAAP diluted EPS of $2.45 to $2.65.
