Slide 1: First Quarter Fiscal 2024 Earnings
First Quarter Fiscal 2024 Earnings January 31, 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: Q1FY24 Highlights
Q1FY24 Highlights 3
Slide 4: First Quarter Fiscal 2024 Results
First Quarter Fiscal 2024 Results Revenues & EPS (1) Exceeded High End of Guidance Range (2) (3) Revenues GAAP EPS Non-GAAP EPS $9.9B $2.46 $2.75 QCT QTL Other Revenues of EBT(4) of Revenues of Returned Announced our upcoming $8.4B $2.6B $1.5B $1.7B 2024 Annual with EBT at high end of Meeting of abo
Slide 5: Qualcomm and Samsung Extend Broad Strategic Partnership
Qualcomm and Samsung Extend Broad Strategic Partnership (2) Qualcomm Technologies, Inc. has extended a multiyear agreement(1) with Samsung relating to Snapdragon® Platforms for flagship Galaxy smartphone launches(2) Snapdragon 8 has emerged as a leading AI platform powering flagship AI smartphones 1
Slide 6: Q1FY24 QCT Highlights
Revenues Q1FY24 QCT Highlights Handsets • The Snapdragon® 8 Gen 3 Mobile Platform is setting a new standard for on-device Gen AI experiences for premium smartphones and powers all true flagship Android devices launched and launching this fiscal year. Record $6.7B • We announced the Snapdragon® 7 Gen
Slide 7: Financial Results and Guidance
Financial Results and Guidance As of January 31, 2024 Quarterly Results and Guidance Q1FY24 Guidance(1) Q1FY24 Results Q2FY24 Guidance(2) Revenues $9.1B - $9.9B $9.9B $8.9B - $9.7B Non-GAAP diluted EPS $2.25 - $2.45 $2.75 $2.20 - $2.40 Decreased 5% Non-GAAP operating expenses ~Flat sequentially ~$2.
Slide 8: Q1FY24 Non-GAAP Results
Q1FY24 Non-GAAP Revenues EBT EPS Results +5% +13% +16% $9.9B $9.5B $3.6B $3.2B $2.75 $2.37 Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 8
Slide 9: Q1FY24 Segment Results
Q1FY24 QCT QTL Segment Revenues EBT Revenues EBT Results +7% +19% -4% -3% $8.4B $7.9B $1.5B $1.5B $1.1B $1.1B $2.6B $2.2B Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 9
Slide 10: Q1FY24 QCT Revenue Streams
Q1FY24 QCT Revenue Handsets Automotive IoT Streams +16% +31% -32% $6.7B $5.8B $1.7B $1.1B $456M $598M Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 10
Slide 11: Key Announcements
Key Announcements 11
Slide 12: QCT Handsets: New Snapdragon 7-Series Mobile Platform
Key Announcement QCT Handsets: Brand-New Snapdragon 7-Series Mobile Platform Provides Remarkable Performance and Power Efficiency with First-in-Tier Features – link Exhilarating AI Unstoppable Connectivity Qualcomm® Hexagon™ Processor Qualcomm® Snapdragon® X63 Spatial Audio FastConnect™ 6700 Modem-R
Slide 13: QCT Consumer IoT: Snapdragon XR2+ Gen 2
Key Announcement QCT Consumer IoT: Qualcomm Accelerates New Wave of Mixed Reality Experiences with Snapdragon XR2+ Gen 2 – link Increased resolution to “Snapdragon XR2+ Gen 2 unlocks 4.3K x 4.3K 4.3K resolution which will take XR Per eye at 90 FPS productivity and entertainment to the next level by
Slide 14: QCT Automotive: Qualcomm and Bosch Central Vehicle Computer
Key Announcement QCT Automotive: Qualcomm and Bosch Showcase New Central Vehicle Computer for Digital Cockpit and Driver Assistance Functions at CES 2024 – link “We are pleased to work with Bosch to Designed to support mixed criticality have our Snapdragon Ride Flex SoC workloads and allowance for d
Slide 15: QCT Edge Networking IoT: 5G RedCap
Key Announcement QCT Edge Networking IoT: Qualcomm Propels Global Expansion of 5G RedCap with Snapdragon X35 5G Modem-RF System – link World’s first 5G RedCap Modem-RF system Fueling expansion of the 5G ecosystem to new wave of low-bandwidth use cases 15
Slide 16: Key Announcements
Key Announcements • Qualcomm Propels Global Expansion of 5G RedCap with Snapdragon X35 5G Modem-RF System – link • Leading University in Vigo, Spain collaborates with Qualcomm to offer its students 5G Training & Certification – link • Brand-New Snapdragon 7-Series Mobile Platform Provides Remarkable
Slide 17: Reconciliations
Reconciliations 17
Slide 18: 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 19: Reconciliations of GAAP to Non-GAAP Financial Measures
Reconciliations of GAAP to Non-GAAP Financial Measures First Quarter 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 $9,935 $13 $— $— $9,922 EBT $2,962 $11 ($602) ($32) $3,585 Net income (loss
Slide 20: Business Outlook
Business Outlook Q1FY24 Q2FY24 Guidance(1) Guidance(2)(3) Revenues $9.1B - $9.9B $8.9B - $9.7B GAAP diluted EPS $1.82 - $2.02 $1.73 - $1.93 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.45) ($0.51) Less diluted EPS attributable to other item
Slide 21: Operating Expenses and Effective Tax Rates
Operating Expenses Q1FY24 Sequential % Q4FY23 Q1FY24 (Decrease) Q1FY24 Q2FY24 (in millions, except percentages) Results Results Increase Guidance(1) Guidance(2) Increase ~1% GAAP combined R&D and SG&A expenses $2,763 $2,723 (1%) sequentially $2,900 Less QSI 3 2 — N/P N/P Less share-based compensatio