QUALCOMM Incorporated (NASDAQ:QCOM) Q3 2024 Results Conference Call July 31, 2024 4:45 PM ET

Company Participants

Mauricio Lopez-Hodoyan - Vice President, Investor Relations
Cristiano Amon - President and Chief Executive Officer
Akash Palkhiwala - Chief Financial Officer and Chief Operating Officer
Alex Rogers - President of Qualcomm Technology Licensing and Global Affairs

Conference Call Participants

Matt Ramsay - TD Cowen
Samik Chatterjee - JPMorgan
Chris Caso - Wolfe Research
Stacy Rasgon - Bernstein Research
Joe Moore - Morgan Stanley
Christopher Rolland - Susquehanna
Ross Seymore - Deutsche Bank
Tal Liani - Bank of America
Tom O'Malley - Barclays

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Qualcomm Third Quarter Fiscal 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded, July 31, 2024. The playback number for today's call is (877) 660-6853, International callers, please dial (201) 612-7415. The playback reservation number is 13747430.

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

Mauricio Lopez-Hodoyan

Thank you, and good afternoon, everyone. Today's call will include prepared remarks by Cristiano 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 accompany 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 could 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 Q3, we delivered non-GAAP revenues of $9.4 billion and non-GAAP earnings per share of $2.33, which was above the midpoint of our guidance range. Revenues from our chipset business of $8.1 billion reflect a sequential growth in automotive and IoT and continued traction of our Snapdragon mobile platforms across leading smartphones. Our automotive and IoT revenues were the result of ongoing execution of our diversification strategy. Licensing business revenues were $1.3 billion.