Skip to content
AnalystLens

QUALCOMM INC/DE 8-K Report, Financial Results (Feb 5, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed February 5, 2025
Period End
February 5, 2025
Security
QCOM
In the record · 2016–202610-K1010-Q338-K138

QCOM filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 138 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Material agreement8-K · Oct ’21Oct ’21
  4. Leadership change8-K · Jan ’26Jan ’26

01—Abstract

Summary

Summary of the 8-K filed February 5, 2025. Cited figures are marked; the original filing is the authoritative source.

Qualcomm (QCOM) reported fiscal Q1 2025 results (quarter ended December 29, 2024) that set multiple records.

GAAP revenue rose 17% year over year to $11.7 billiona, and GAAP diluted EPS increased 15% to $2.83. Non-GAAP diluted EPS rose 24% to a record $3.41 on non-GAAP revenue growth of 18%. Growth was led by QCT (Qualcomm CDMA Technologies, the chip business), where revenue grew 20% to $10.1 billion, a record above $10 billion.

Handsets reached a quarterly record at $7.6 billionb (+13%), automotive reached its sixth consecutive quarter of record revenue at $961 million (+61%), and IoT grew 36% to $1.5 billion. QTL (licensing) revenue grew 5% to $1.5 billion, with segment EBT margin of 75%. Cash generation and capital returns were strong.

Operating cash flow was $4.6 billionc, up from $2.9 billion, and the company returned $2.7 billion to stockholders, including $942 million in dividends and $1.8 billion in buybacks of 11 million shares. Balance sheet cash and marketable securities totaled roughly $14.3 billion, while total debt was about $14.6 billion. GAAP results include a $164 million foreign currency loss tied to a Korean withholding tax refund claim, and GAAP EBT was depressed relative to non-GAAP by share-based compensation of $758 million.

Management reiterated its fiscal 2029 target of $22 billiond in non-handset revenue and flagged that Q2 guidance includes revenue from the settlement of a dispute. This 8-K furnishes the earnings release under Item 2.02 and does not itself contain guidance figures, which appear in the attached press release's Business Outlook section, not reproduced in the text provided. Investors should note that the company's reliance on handset customers and its China exposure remain key risks.

02—Key points

Key Highlights

  1. Record quarterly revenue of $11.7 billion, up 17% GAAP year over year, with QCT revenue exceeding $10 billion for the first time
  2. GAAP diluted EPS of $2.83 (+15%); record non-GAAP diluted EPS of $3.41 (+24%)
  3. QCT revenue up 20% to $10.1 billion, with handsets at a record $7.6 billion (+13%), automotive up 61% to $961 million, and IoT up 36% to $1.5 billion
  4. QTL licensing revenue up 5% to $1.5 billion, with a 75% EBT margin
  5. Operating cash flow of $4.6 billion, up from $2.9 billion a year earlier
  6. Returned $2.7 billion to stockholders: $942 million in dividends and $1.8 billion in repurchases of 11 million shares
  7. Management reaffirmed the fiscal 2029 target of $22 billion in non-handset revenue; Q2 guidance includes revenue from a dispute settlement

03—Questions

Frequently Asked Questions

  1. What drove Qualcomm's revenue growth in the first quarter of fiscal 2025?

    Growth came mainly from QCT, which rose 20% to $10.1 billion. Handsets grew 13% to a record $7.6 billion, automotive grew 61% to $961 million, and IoT grew 36% to $1.5 billion. Licensing revenue at QTL grew 5% to $1.5 billion.

  2. How does GAAP EPS differ from non-GAAP EPS this quarter?

    GAAP diluted EPS was $2.83 and non-GAAP diluted EPS was $3.41. The gap is mainly share-based compensation of about $758 million pre-tax, plus acquisition-related charges and other items. Non-GAAP excludes the QSI strategic investments segment, which contributed a small amount in this quarter.

  3. How much capital did Qualcomm return to shareholders, and how strong is its cash position?

    Qualcomm returned $2.7 billion in the quarter, including $942 million in dividends ($0.85 per share) and $1.8 billion in buybacks. Cash and equivalents were $8.7 billion and marketable securities were $5.6 billion, against total long-term and short-term debt of about $14.6 billion.

  4. What should investors watch in the upcoming quarters?

    Key items include whether handset demand from premium-tier devices holds up, progress toward the $22 billion non-handset revenue target for fiscal 2029, and the dispute settlement revenue expected in Q2. The filing also flags risks such as customer vertical integration, concentration of business in China, and U.S./China tensions. The detailed Q2 guidance appears in the press release's Business Outlook section, which is not reproduced in the text provided.

04—Continue

← View all 8-K filings