Qualcomm Q2 Earnings Highlights: Revenue Beat, EPS Beat, Record Automotive Results, On-Device AI Growth
Portfolio Pulse from Chris Katje
Qualcomm Inc (NASDAQ:QCOM) reported Q2 financial results with a revenue of $9.39 billion, up 1% YOY, beating the consensus estimate of $9.34 billion. EPS was $2.44, surpassing the estimate of $2.32. The company saw a record in automotive revenue at $603 million, a 35% increase YOY, and announced a quarterly cash dividend increase to $3.40 per share. QCT and QTL segments also reported growth. Qualcomm anticipates Q3 revenue between $8.8 billion and $9.6 billion, with EPS in the range of $2.15 to $2.35.
May 01, 2024 | 8:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Qualcomm reported a strong Q2 with revenue and EPS beats, record automotive revenue, and a dividend increase. Q3 revenue and EPS guidance also provided.
The positive earnings report, with both revenue and EPS exceeding expectations and record automotive revenue, indicates strong operational performance and market confidence. The increase in quarterly cash dividend further supports a positive outlook, making it likely that QCOM's stock price will experience short-term upward pressure. The guidance for Q3 suggests continued growth, reinforcing the positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100