Slide 1: Fourth Quarter and Fiscal 2024 Earnings
Fourth Quarter and Fiscal 2024 Earnings November 6, 2024
Slide 2: Note Regarding Forward-Looking Statements
Note Regarding Forward-Looking Statements In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our growth and dive
Slide 3: Q4FY24 Highlights
Q4FY24 Highlights
Slide 4: Fourth Quarter Fiscal 2024 Results
Fourth Quarter Fiscal 2024 Results (1) (2) Revenues GAAP EPS Non-GAAP EPS $10.2B $2.59 $2.69 QCT QTL Other Revenues of EBT(4) of Revenues of Returned Upcoming event: $8.7B $2.5B $1.5B $2.2B 2024 at high end of with EBT at high end of guidance range(3) margin of guidance range to stockholders includi
Slide 5: Q4FY24 QCT Highlights
Revenues Q4FY24 Handsets QCT Highlights • Our recently unveiled Snapdragon® 8 Elite has shown strong design traction, $6.1B with successful launches at Xiaomi, Honor, Oppo and Vivo, and we look forward to additional launches at Samsung, ASUS and more. 30% EBT Growth YoY • Our recently announced Snap
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of November 6, 2024 Quarterly Results and Guidance Q4FY24 Guidance(1) Q4FY24 Results Q1FY25 Guidance(2) Revenues $9.5B - $10.3B $10.2B $10.5B - $11.3B Non-GAAP diluted EPS $2.45 - $2.65 $2.69 $2.85 - $3.05 (3) Non-GAAP operating expenses ~$2.2B $2.3B ~$2.2B GAAP int
Slide 7: FY24 Highlights
FY24 Highlights
Slide 8: FY24 Non-GAAP Results
FY24 Revenues EBT EPS Non-GAAP Results +9% +20% +21% >20% EPS Growth $38.9B $35.8B Record Free Cash Flow(1) of $11.2B $10.22 $13.3B $8.43 $11.1B FY23 FY24 FY23 FY24 FY23 FY24 1.) Free Cash Flow = Net cash provided by operating activities less capital expenditures. 8
Slide 9: FY24 Segment Results
FY24 QCT QTL Segment Revenues EBT Revenues EBT Results +9% +20% +5% +11% $33.2B $30.4B $5.6B $5.3B $4.0B $3.6B $9.5B $7.9B FY23 FY24 FY23 FY24 FY23 FY24 FY23 FY24 9
Slide 10: FY24 QCT Revenue Streams
FY24 QCT Revenue Handsets Automotive IoT Streams +10% +55% -9% Record Auto Revenues $22.6B $24.9B $5.9B $5.4B $2.9B $1.9B FY23 FY24 FY23 FY24 FY23 FY24 10
Slide 11: Key Announcements
Key Announcements
Slide 12: QCT Handsets: Performance Transformed
Key Announcement QCT Handsets: (1) Qualcomm Unveils Snapdragon® 8 Elite with the World’s Fastest Mobile CPU – link Performance Qualcomm Oryon CPU 3nm process node Transformed 4.32GHz CPU max frequency New Architecture: Prime & Performance Cores Connectivity Snapdragon® X80 Qualcomm® Power savings 45
Slide 13: Unlocking the new era of automotive intelligence
Key Announcement QCT Automotive: Qualcomm Races Ahead in the Evolution of Software-Defined Vehicles with New Snapdragon® Cockpit Elite and Snapdragon Ride Elite Platforms – link Unlocking the new era of automotive intelligence Qualcomm Oryon CPU Customized for automotive Designed for 3X GPU and CPU
Slide 14: QCT AI PC: Snapdragon X Plus 8-core
Key Announcement QCT AI PC: Qualcomm Expands Performance Leadership to More Copilot+ PC Users with New Snapdragon® X Plus 8-core – link Built for Support for 3 external displays all at UHD 60Hz AI 45 TOPS Qualcomm® Hexagon NPU Expanding Copilot+ to more PCs Qualcomm® 2.1 Adreno GPU TFLOPS Qualcomm O
Slide 15: QCT Industrial IoT: AI is Transforming Industries
Key Announcement QCT Industrial IoT: Qualcomm Introduces Industrial-Grade IQ Series and IoT Solutions Framework to Usher in New Era of Industrial Intelligence – link AI is Transforming Industries THE MEGA TRENDS Safety | Environmental Collaboration | Productivity Use Cases Resilience THE CHANGE CATA
Slide 16: QCT Edge Networking IoT: Networking Pro A7 Elite
Key Announcement QCT Edge Networking IoT: Qualcomm Unveils the Networking Pro A7 Elite Platform, the First Commercial Platform to Revolutionize Networking Connectivity with Edge AI – link Front-end modules Filters 40 TOPS XGS-PON for AI applications Qualcomm® Networking AI accelerator Ethernet Netwo
Slide 17: Key Announcements
• Qualcomm President and CEO Cristiano Amon to Hold Press Conference on Delivering Breakthrough Computing Experience to More Users – link • Manchester United and Qualcomm Extend and Expand Principal Shirt Partnership – link • Snapdragon 7s Gen 3 Brings Remarkable AI Experiences to More Affordable Sm
Slide 18: Reconciliations
Reconciliations
Slide 19: Note Regarding Use of Non-GAAP Financial Measures
Note Regarding Use of Non-GAAP Financial Measures The Non-GAAP financial measures presented herein should be considered in addition to, not as a substitute for or superior to, financial measures calculated in accordance with GAAP. In addition, “Non- GAAP” is not a term defined by GAAP, and as a resu
Slide 20: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures Free Cash Flow (in millions) FY24 Operating cash flow (GAAP net cash provided by operating activities) $12,202 Less capital expenditures 1,041 Free cash flow (Non-GAAP) $11,161 Fourth Quarter Fiscal 2024 Results Less Share- GAAP Based Less Other
Slide 21: Fiscal 2024 Results and Fiscal 2023 Results
Fiscal 2024 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Revenues $38,962 $18 $— $— $38,944 EBT $10,336 $104 ($2,648) ($407) $13,287 Net income (loss) $10,142 $82 ($1,986) $501 $11,545 Diluted EPS $8.97 $0.07 (
Slide 22: Business Outlook
Business Outlook Q4FY24 Q1FY25 Guidance(1) Guidance(2) Revenues $9.5B - $10.3B $10.5B - $11.3B GAAP diluted EPS $2.38 - $2.58 $2.39 - $2.59 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.44) ($0.53) Less diluted EPS attributable to other item
Slide 23: Operating Expenses and Effective Tax Rates
Operating Expenses FY24 vs. FY23 % FY23 FY24 Increase Q4FY24 Q1FY25 (in millions, except percentages) Results Results (Decrease) Q4FY24 Results Guidance(1) Guidance(2) GAAP combined R&D and SG&A expenses $11,301 $11,652 3% $3,064 ~$2,850 ~$2,950 Less QSI 12 12 — 4 N/P N/P Less share-based compensati