Qualcomm reported strong fiscal Q3 2024 results with revenues reaching $9.4 billion, up 11% YoY, while GAAP EPS rose 18% to $1.88 and Non-GAAP EPS increased 25% to $2.33. The company's QCT segment revenue grew 12% to $8.1 billion, with particularly robust growth in automotive revenues surging 87% YoY to $811 million.The company's diversification strategy showed positive results with QCT quarterly revenues and EBT margins at the high end of guidance. Handset revenue increased 12% to $5.9 billion, though IoT revenue declined 8% to $1.4 billion. QTL segment revenue grew 3% to $1.3 billion with improved EBT margin of 70%.Looking ahead, Qualcomm projects Q4 FY24 revenues between $9.5-10.3 billion, with QCT revenues estimated at $8.1-8.7 billion and QTL revenues at $1.35-1.55 billion. The company returned $2.3 billion to stockholders in Q3, including $949 million in dividends and $1.3 billion through share repurchases.

Qualcomm reported strong fiscal Q3 2024 results with revenues reaching $9.4 billion, up 11% YoY, while GAAP EPS rose 18% to $1.88 and Non-GAAP EPS increased 25% to $2.33. The company's QCT segment revenue grew 12% to $8.1 billion, with particularly robust growth in automotive revenues surging 87% YoY to $811 million.The company's diversification strategy showed positive results with QCT quarterly revenues and EBT margins at the high end of guidance. Handset revenue increased 12% to $5.9 billion, though IoT revenue declined 8% to $1.4 billion. QTL segment revenue grew 3% to $1.3 billion with improved EBT margin of 70%.Looking ahead, Qualcomm projects Q4 FY24 revenues between $9.5-10.3 billion, with QCT revenues estimated at $8.1-8.7 billion and QTL revenues at $1.35-1.55 billion. The company returned $2.3 billion to stockholders in Q3, including $949 million in dividends and $1.3 billion through share repurchases.