Slide 1: Fourth Quarter and Fiscal 2023 Earnings
Fourth Quarter and Fiscal 2023 Earnings November 1, 2023
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: Q4FY23 Highlights
Q4FY23 Highlights 3
Slide 4: Fourth Quarter Fiscal 2023 Results
Fourth Quarter Fiscal 2023 Results Non-GAAP (1) EPS (2) Exceeded High End of Guidance Range (3) Non-GAAP Revenues GAAP EPS Non-GAAP EPS $8.7B $1.32 $2.02 QCT QTL Other FY23 Revenues of EBT(4) of Revenues of Returned Exceeded our FY23 cost $7.4B action target, reducing $1.9B $1.3B $1.3B Non-GAAP oper
Slide 5: Q4FY23 QCT Highlights
Revenues Q4FY23 QCT Highlights Handsets • We announced our latest premium mobile platform, the Snapdragon® 8 Gen 3, which delivers industry-leading performance and extraordinary experiences to consumers for the upcoming generative AI era. 12th consecutive $5.5B • In addition, we recently entered int
Slide 6: Financial Results and Guidance
Financial Results and Guidance As of November 1, 2023 Quarterly Results and Guidance Q4FY23 Guidance(1) Q4FY23 Results Q1FY24 Guidance(2) GAAP Revenues $8.1B - $8.9B $8.6B $9.1B - $9.9B Non-GAAP diluted EPS $1.80 - $2.00 $2.02 $2.25 - $2.45 Decreased 1% Non-GAAP operating expenses ~Flat sequentially
Slide 7: FY23 Highlights
FY23 Highlights 7
Slide 8: FY23 Non-GAAP Results
FY23 Non-GAAP Revenues EBT EPS Results -19% -33% -33% $44.2B $35.8B $12.53 $16.6B $8.43 $11.1B FY22 FY23 FY22 FY23 FY22 FY23 8
Slide 9: FY23 Segment Results
FY23 QCT QTL Segment Revenues EBT Revenues EBT Results -19% -38% -17% -22% $37.7B $30.4B $6.4B $5.3B $4.6B $12.8B $3.6B $7.9B FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 9
Slide 10: FY23 QCT Revenue Streams
FY23 QCT Revenue Handsets Automotive IoT Streams -22% +24% -19% $28.8B $22.6B $7.4B $5.9B $1.9B $1.5B FY22 FY23 FY22 FY23 FY22 FY23 Note: Beginning in the first quarter of fiscal 2023, QCT RFFE (radio frequency front-end) revenues, which were previously presented as a separate revenue stream, are no
Slide 11: Key Announcements
Key Announcements 11
Slide 12: QCT Handsets: Agreement with Apple for Chip Supply
Key Announcement QCT Handsets: Qualcomm Announces Agreement with Apple for Chip Supply – link Reinforcing Qualcomm’s clear leadership across 5G technologies and products Qualcomm Technologies, Inc. has entered into an agreement with Apple Inc. to supply Snapdragon® 5G Modem-RF Systems for 5G smartph
Slide 13: QCT Automotive: Snapdragon Digital Chassis for 2-Wheelers
Key Announcement QCT Automotive: Qualcomm Diversifies Automotive Portfolio with Launch of Snapdragon® Digital Chassis™ solution for 2-Wheelers and New Vehicle Classes – link Scaling Automotive leadership to new vehicles to expand addressable opportunity • Snapdragon Digital Chassis solution expands
Slide 14: QCT Edge Networking IoT: 10G Fiber Gateway Platform
Key Announcement QCT Edge Networking IoT: Qualcomm Unveils the Qualcomm® 10G Fiber Gateway Platform for Ultimate Connected Home Performance – link Introducing broadband gateway services platform with 10G Fiber & Wi-Fi 7 • Marking a new era of 10 Gigabit (10G) Fiber broadband service, in which the ga
Slide 15: QCT Consumer IoT: XR and AR Platforms
Key Announcement QCT Consumer IoT: Qualcomm Launches Its Next Generation XR and AR Platforms, Enabling Immersive Experiences and Slimmer Devices – link Snapdragon powers Meta Quest 3 VR headset & Ray-Ban Smart Glasses Powering Immersive and True-to-Life Powering Next-Generation • Snapdragon® XR2 Gen
Slide 16: Key Announcements
Key Announcements • Qualcomm Collaborates with Hyundai Motor Group on Purpose-Built Vehicle Infotainment – link • BMW Group and Qualcomm Demonstrate Continued Momentum to Redefine Next-Generation • Qualcomm Appoints Savi Soin as President of Qualcomm India – link Vehicles With Snapdragon Digital Cha
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 Free Cash Flow (in millions) FY23 Net cash provided by operating activities (GAAP) $11,299 Less capital expenditures 1,450 Free cash flow (Non-GAAP) $9,849 Fourth Quarter Fiscal 2023 Results Less Share- GAAP Based Less Other Non-GAAP (in million
Slide 20: Fiscal 2023 Results and Fiscal 2022 Results
Fiscal 2023 Results Less Share- GAAP Based Less Other Non-GAAP (in millions, except per share data) Results Less QSI Compensation Items(1) Results Revenues $35,820 $28 $— ($40) $35,832 EBT $7,443 ($12) ($2,484) ($1,131) $11,070 Net income (loss) $7,232 ($10) ($2,021) ($223) $9,486 Diluted EPS $6.42
Slide 21: Business Outlook and Effective Tax Rates
Business Outlook Q4FY23 Q1FY24 Guidance(1) Guidance(2)(3) Revenues $8.1B - $8.9B $9.1B - $9.9B GAAP diluted EPS $1.37 - $1.57 $1.82 - $2.02 Less diluted EPS attributable to QSI $— $— Less diluted EPS attributable to share-based compensation ($0.45) ($0.45) Less diluted EPS attributable to other item
Slide 22: Operating Expenses
Operating Expenses FY23 vs. Annualized Q4FY22 (1) Annualized Q4FY22 % FY23 Target (in millions, except percentages) Results Q4FY22 (1) Results FY23 Results (Decrease) Increase Reduction(1) GAAP combined R&D and SG&A expenses $2,862 $11,448 $11,301 (1%) ~Flat year-over-year Less QSI 3 12 12 — N/P Les