Summary by Moomoo AI
On January 31, 2024, Qualcomm Incorporated released its financial results for the first quarter of fiscal year 2024, which ended on December 24, 2023. The company reported revenues of $9.9 billion, a 5% increase from the previous year, and exceeded the high end of its guidance range. GAAP EPS was $2.46, while Non-GAAP EPS was $2.75. Qualcomm's QCT (Qualcomm CDMA Technologies) segment, which includes Handsets, Automotive, and IoT, saw a 7% revenue increase, with a notable 31% increase in Automotive revenues. The company returned $1.7 billion to stockholders through dividends and share repurchases. For the second quarter of fiscal 2024, Qualcomm anticipates revenues between $8.9 billion and $9.7 billion, with Non-GAAP diluted EPS estimated to be between $2.20 and $2.40. The earnings release was accompanied by a press release and will be discussed in a conference call.