Slide 1: Second Quarter Fiscal 2024 Earnings
Second Quarter Fiscal 2024 Earnings May 1, 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: Q2FY24 Highlights
Q2FY24 Highlights 3
Slide 4: Second Quarter Fiscal 2024 Results
Second Quarter Fiscal 2024 Results (1) (2) Revenues GAAP EPS Non-GAAP EPS $9.4B $2.06 $2.44 QCT QTL Other Revenues of EBT(4) of Revenues of Returned Increased $8.0B annualized dividend $2.3B $1.3B $1.6B payout to at midpoint of $3.40 ↑$0.20 above guidance with EBT to stockholders midpoint(3) margin
Slide 5: Q2FY24 QCT Highlights
Revenues Q2FY24 • In premium and high-tier smartphones, our Snapdragon® Mobile platforms continue QCT Highlights Handsets to set the bar for performance and on-device Gen AI capabilities. • Recently launched flagship Android devices powered by Snapdragon® 8 Gen 3 are Third $6.2B seeing strong demand
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of May 1, 2024 Quarterly Results and Guidance Q2FY24 Guidance(1) Q2FY24 Results Q3FY24 Guidance(2) Revenues $8.9B - $9.7B $9.4B $8.8B - $9.6B Non-GAAP diluted EPS $2.20 - $2.40 $2.44 $2.15 - $2.35 (3) Non-GAAP operating expenses ~$2.2B $2.2B ~$2.2B GAAP interest and
Slide 7: Q2FY24 Non-GAAP Results
Q2FY24 Revenues EBT EPS Non-GAAP Results +1% +11% +13% $9.3B $9.4B $3.2B $2.9B $2.15 $2.44 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 7
Slide 8: Q2FY24 Segment Results
Q2FY24 QCT QTL Segment Revenues EBT Revenues EBT Results +1% +9% +2% +7% $7.9B $8.0B $1.3B $1.3B $871M $933M $2.1B $2.3B Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 8
Slide 9: Q2FY24 QCT Revenue Streams
Q2FY24 QCT Revenue Handsets Automotive IoT Streams +1% +35% -11% $6.1B $6.2B $1.4B $1.2B $603M $447M Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 9
Slide 10: First generation of flagship Android smartphones featuring on-device AI
First generation of flagship Android smartphones from leading OEMs featuring on-device AI Live translation Live transcription Samsung OPPO HONOR Xiaomi Galaxy S24 series Find X7 Ultra Magic6 Pro 14 | 14 Ultra Photo portrait generation Photo AI editing Semantic search OnePlus 12 vivo X Fold3 Pro ASUS
Slide 11: Key Announcements
Key Announcements 11 11
Slide 12: Continued design-win growth with OEMs globally
Continued design-win growth with OEMs globally Services platform 4G/5G cellular connectivity ~$45B In-car connectivity Positioning ↑~50% EV charging connectivity since Automotive Investor Day(2) design-win pipeline (1) In-car experiences Instrument clusters Navigation Cameras L1 to L4 Automated Driv
Slide 13: QCT AI Leadership: Qualcomm AI Hub
Key Announcement QCT AI Leadership: Qualcomm Continues to Bring the Generative AI Revolution to Devices and Empowers Developers with Qualcomm® AI Hub – link Qualcomm AI Hub ~100 (1) Access Optimized AI models with up to 4X inferencing speeds today (2) aihub.qualcomm.com 1.) As of May 1, 2024. 2.) Qu
Slide 14: QCT Handsets: FastConnect 7900 Wi-Fi 7 System
Key Announcement QCT Handsets: Qualcomm Redefines Connected Experiences with Qualcomm® FastConnect 7900, the First AI-optimized Wi-Fi 7 System – link 1st AI-enhanced Wi-Fi system 1st integrated Wi-Fi, Bluetooth®, Ultra Wideband Guaranteed Quality of Service Optimized latency vs. power Roaming / mobi
Slide 15: QCT Modem-RF System
Key Announcement QCT Modem-RF System: Qualcomm Unveils the World’s Most Advanced 5G Modem-RF System, Harnessing Integrated AI to Enable the Next Generation of 5G – link First 6x (1) First AI-enabled First AI-based downlink carrier aggregation range extension for CPE multi-antenna management First NB
Slide 16: QCT Handsets: Snapdragon 8s Gen 3
Key Announcement QCT Handsets: Qualcomm Brings the Best of On-Device AI to More Smartphones with Snapdragon® 8s Gen 3 – link 18-bit triple Hyper-realistic gaming Cognitive ISP Qualcomm® Adreno GPU Always-Sensing Camera Hardware-Accelerated Photo Expansion Ray Tracing Semantic Segmentation Adreno Fra
Slide 17: QCT Consumer IoT: Next Generation Sound Platforms
Key Announcement QCT Consumer IoT: Qualcomm Introduces Two Next Generation Sound Platforms to Elevate the Wireless Audio Experience for Premium and Mid-Tier Earbuds, Headphones and Speakers – link New audio sharing Powerful Faster experiences with Adaptive time to LE Audio ANC market Rich and respon
Slide 18: QCT IoT: Wi-Fi Technology and AI-Ready Platforms
Key Announcement QCT IoT: Qualcomm Announces Breakthrough Wi-Fi Technology and Introduces New AI-Ready IoT and Industrial Platforms at Embedded World 2024 – link Micro-power Bringing advanced on-device AI to IoT and Wi-Fi for IoT embedded applications Ultra-low micro-power Innovative power managemen
Slide 19: QCT AI PC: Snapdragon X Plus Platform
Key Announcement QCT AI PC: Qualcomm Continues to Disrupt the PC Industry with the Addition of Snapdragon® X Plus Platform – link Always- Built for AI Sensing ISP 45 TOPS Qualcomm® Hexagon NPU Integrated Micro NPU Support for 3 external displays on Qualcomm® World’s Fastest NPU for Laptops Sensing H
Slide 20: Key Announcements
Key Announcements • Qualcomm Revolutionizes the Future of AI and Connectivity with Groundbreaking Innovations at • Qualcomm Announces Breakthrough Wi-Fi Technology and Introduces New AI-Ready IoT and MWC Barcelona – link Industrial Platforms at Embedded World 2024 – link • Qualcomm Continues to Brin
Slide 21: Reconciliations & Other Information
Reconciliations & Other Information 21
Slide 22: 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 23: Reconciliations of GAAP to Non-GAAP Financial Measures & Other Information
Reconciliations of GAAP to Non-GAAP Financial Measures & Other Information Second 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 $9,389 $3 $— $— $9,386 EBT $2,498 $96 ($706) ($67) $3,
Slide 24: Business Outlook and Revenue Concentration
Business Outlook Q2FY24 Q3FY24 Guidance(1) Guidance(2)(3) Revenues $8.9B - $9.7B $8.8B - $9.6B GAAP diluted EPS $1.73 - $1.93 $1.74 - $1.94 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.51) ($0.45) Less diluted EPS attributable to other item
Slide 25: Operating Expenses and Effective Tax Rates
Operating Expenses (in millions) Q2FY24 Results Q2FY24 Guidance(1) Q3FY24 Guidance(2) GAAP combined R&D and SG&A expenses $2,943 $2,900 ~$2,850 Less QSI 3 N/P N/P Less share-based compensation 682 N/P N/P Less other items(3) 95 N/P N/P Non-GAAP operating expenses (Non-GAAP combined R&D and SG&A expe