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QUALCOMM Incorporated (QCOM) has submitted its 10-Q filing for the quarterly period ended December 29, 2024.
The filing details financial results, indicating a 17% increase in revenues to $11.7 billion compared to the previous year. Net income rose by 15% to $3.2 billion.
Revenues from the QCT segment increased by 20%, driven by higher sales in handsets, IoT, and automotive sectors. The QTL segment saw a 5% rise in revenues.
Operating income for the quarter was reported at $3.555 billion, up from $2.928 billion in the previous year. The increase is attributed to higher revenues despite increased operating expenses.
Interest expense decreased to $163 million from $178 million, while investment and other income rose to $243 million from $212 million.
Cash provided by operating activities was $4.587 billion, compared to $2.949 billion in the previous year. Cash used in investing activities was $671 million, and cash used in financing activities was $3.008 billion.
QUALCOMM repurchased 11 million shares of common stock during the quarter, utilizing the remaining authorization under the previous repurchase program and beginning repurchases under a new $15 billion program.
The company announced a cash dividend of $0.85 per share, payable on March 27, 2025, to stockholders of record as of March 6, 2025.
QUALCOMM continues to focus on expanding its technologies into new areas beyond mobile handsets, such as automotive and IoT, while maintaining its leadership in 5G technology development and standardization.
Legal proceedings are ongoing, including consumer class action lawsuits and patent-related litigation. The company intends to continue defending its business practices vigorously.
The filing also discusses potential risks related to supply chain disruptions, geopolitical tensions, and regulatory changes that could impact future operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the QUALCOMM Incorporated quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.