Qualcomm Q3 2024 $QCOM (+0,82 %)
Financial performance:
- Revenue: Total revenue for fiscal 2024 was $38.962 million, an increase from $35.820 million in 2023.
- Earnings Before Tax (EBT): EBT increased to $10.336 million in FY2024 compared to $7.443 million in 2023, indicating strong operating performance.
Balance sheet overview:
- Assets: Cash, marketable securities and cash equivalents totaled $14.634 million as of September 29, 2024.
- Liabilities: Total liabilities amounted to $15.0 billion.
Income statement:
- QCT segment (chip production): Segment EBT increased to $9.527 million in 2024 from $7.924 million in 2023.
- License revenue QTL: License revenue in QTL increased to $5.572 million in 2024 from $5.306 million in the prior year.
Cash flow overview:
- Operating activities: Net cash provided by operating activities amounted to $12.202 million in 2024.
- Investing activities: Net cash outflow amounted to $(3.623) million.
- Financing activities: Net cash outflow amounted to $(4,385) million.
Key figures and profitability metrics:
- EBT margin: QCT segment EBT margin increased from 26% in 2023 to 29% in 2024, indicating higher efficiency.
- QTL EBT margin: The EBT margin of the QTL segment increased from 68% to 72%.
Segment information:
- QCT segment: Revenue increased to $33.196 million in 2024, an increase from $30.382 million in 2023.
- QTL segment: Revenue increased to $5.572 million in 2024 compared to $5.306 million in the prior year.
Competitive Position:
- The company faces strong competition in the semiconductor and licensing sectors and is focused on expanding into the automotive and IoT sectors.
Forecasts and management commentary:
- Management expects continued growth in the Automotive and IoT segments, supported by new vehicle launches and increasing demand for consumer products.
Risks and opportunities:
- Risks: Risks include currency fluctuations, regulatory changes and a high dependency on a few major customers.
- Opportunities: Expansion into the automotive and IoT markets and utilization of Snapdragon platforms.
Summary of results:
Positives:
- Revenue and EBT growth.
- Strong sales increases in the QCT segment.
- Improved EBT margins in QCT and QTL.
- High cash flow from operating activities.
- Strategic focus on automotive and IoT markets.
Negative aspects:
- Decline in IoT sales due to unfavorable product mix.
- High concentration of revenue on a small number of customers.
- Exposure to currency and interest rate risks.
- Potential regulatory and geopolitical risks.
- Significant debt burden of $15.0 billion.