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Qualcomm Q3 2024 $QCOM (-2,78 %)

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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.
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