Qualcomm closed fiscal 2024 on a high note. Q4 revenue jumped 19% year-over-year. Net income surged 96%. Annual revenue increased 9%, while net income soared 40% compared to fiscal 2023.
The company also returned significant value to shareholders. In Q4, Qualcomm paid out $947 million in dividends, totaling $3.68 billion for the year. It repurchased $1.3 billion in shares during Q4, reaching $4.12 billion for the year. Moreover, the Board approved an additional $15 billion stock buyback program, signaling confidence in continued growth.
Division Performance
Each division performed well in Q4 2024. Handsets remained the top revenue driver with $6.1 billion, up from $5.5 billion last year. The Internet of Things (IoT) segment also grew, generating $1.7 billion, compared to $1.4 billion in Q4 2023.
The automotive division continued its rapid growth. Revenue jumped to $899 million, up from $535 million last year. Looking ahead, Qualcomm projects Q1 fiscal 2025 revenue between $10.5 billion and $11.3 billion.
CEO’s Outlook
Cristiano Amon, Qualcomm’s President and CEO, shared an optimistic outlook. Recent launches at Snapdragon Summit and Embedded World, he said, strengthen Qualcomm’s leadership in Handsets, PC, Automotive, and Industrial IoT. Amon looks forward to sharing more updates on growth and diversification at Investor Day on November 19.
With robust Q4 results, Qualcomm proves its ability to drive growth and shareholder value across key markets.
