QUALCOMM Q3 2024 Earnings Summary $QCOM

Market Insights

In the latest episode, we delve into QUALCOMM's impressive Q3 2024 earnings call, showcasing non-GAAP revenues of $9.4 billion and an EPS of $2.33, surpassing expectations. CEO Cristiano Amon highlights robust growth in the chipset sector, particularly driven by the automotive and IoT markets, with over ten new design wins in the automotive space. The integration of Generative AI into their Snapdragon Digital Chassis is positioning QUALCOMM as a leader in the digital automotive scene. In mobile technology, new devices like the Galaxy Z Fold6 herald a shift toward AI-centric smartphones. CFO Akash Palkhiwala discusses the pivotal launch of AI-capable Copilot+ PCs, predicting a significant transition in computing. With a revenue forecast for Q4 between $9.5 billion and $10.3 billion, and EPS projected between $2.45 and $2.65, QUALCOMM remains strategically focused on diversification and innovation. Tune in for expert insights and a preview of the forthcoming Investor Day on November 19, where the company’s strategic roadmap will be further unveiled.