QUALCOMM Incorporated (NASDAQ:QCOM) Q2 2024 Earnings Conference Call May 1, 2024 4:45 PM ET

Company Participants

Mauricio Hodoyan - Vice President, Investor Relations
Cristiano Amon - President and Chief Executive Officer
Akash Palkhiwala - Chief Financial Officer and Chief Operating Officer

Conference Call Participants

Matt Ramsay - TD Cowen
Samik Chatterjee - JPMorgan
Mike Walkley - Canaccord Genuity
Stacy Rasgon - Bernstein Research
Chris Caso - Wolfe Research
Timothy Arcuri - UBS
Tal Liani - Bank of America
C.J. Muse - Cantor Fitzgerald

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm Second Quarter Fiscal Year 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, May 1, 2024. The playback number for today's call is 877-660-6853. International callers, please dial 201-612-7415. The playback reservation number is 13745532.

I would now like to turn the call over to Mauricio Lopez-Hodoyan, Vice President of Investor Relations. Mauricio Lopez-Hodoyan, please go ahead.

Mauricio Hodoyan

Thank you, and good afternoon, everyone. Today's call will include prepared remarks by Christian Amon and Akash Palkhiwala. In addition, Alex Rogers will join the question-and-answer session. You can access our earnings release and a slide presentation that accompanied this call on our Investor Relations website. In addition, this call is being webcast on qualcomm.com, and a replay will be available on our website later today.

During the call today, we will use non-GAAP financial measures as defined in Regulation G, and you can find the related reconciliations to GAAP on our website. We will also make forward-looking statements, including projections and estimates of future events, business or industry trends or business or financial results. Actual events or results could differ materially from those projected in our forward-looking statements. Please refer to our SEC filings, including our most recent 10-K, which contain important factors that cause actual results to differ materially from the forward-looking statements.

And now to comments from Qualcomm's President and Chief Executive Officer, Cristiano Amon.

Cristiano Amon

Thank you, Mauricio. And good afternoon, everyone. Thanks for joining us today. In Fiscal Q2, we delivered non-GAAP revenues of $9.4 billion. Non-GAAP earnings per share of $2.44 was above the high end of our guidance. Revenues from our chipset business of $8 billion reflect strong premature demand for Android smartphones and continued momentum in automotive. Licensing business revenues were $1.3 billion. During the quarter, we also made significant progress on our leading technology and product roadmaps as well as executing on our growth and diversification opportunities.