Qualcomm finished its first year by releasing fourth-quarter financial results. In the fourth quarter of the fiscal year, the company’s revenue increased 19% compared to the fourth quarter of 2023, while its net profit almost doubled (+96%).

Qualcomm reports for the fourth fiscal quarter of 2024

This caps a strong 2024 fiscal year for Qualcomm, with full-year revenue up 9% versus 2023 and net income up 40%.

Full report for 2024 compared to 2023

The company paid dividends of $947 million in the fourth quarter of 2024 alone, for the full year the figure was $3.68 billion. Additionally, Qualcomm repurchased $1.3 billion worth of stock in the quarter and a total of $4.12 billion for the full fiscal year. The Board of Directors approved an additional $15 billion in share repurchases.

Financial results and guidance

The fourth quarter breakdown by division is also interesting. Of course, the mobile market was the biggest gainer, with revenues of $6.1 billion. The Internet of Things followed with $1.7 billion in revenue, while the automotive sector boomed with $899 million in revenue. By comparison, the figures for Q4 2023 are $5.5 billion for mobile, $1.4 billion for IoT, and $535 million for automotive.

The telephone market is the one that generates the largest revenue, the automotive market is growing

According to estimates for the first quarter of the 2025 financial year, Qualcomm expects revenue to grow from $10.5 billion to $11.3 billion.

Cristiano Amon, President and CEO of Qualcomm, said: “We are pleased to close the fiscal year with strong fourth quarter results, with EPS growth exceeding 30% year over year. We are excited about our recent product announcements at Snapdragon Summit and Embedded World, as they continue to expand our technology leadership and position us well in mobile, PC, automotive, and industrial IoT. We look forward to providing an update on our growth and diversification initiatives during Investor Day on November 19.”