QUALCOMM Reports Q2 2024 Earnings
Record Revenue Driven by Strong Demand for 5G Products
Key Financial Highlights
QUALCOMM Incorporated (QCOM) reported its second-quarter 2024 financial results, showing record revenue and strong earnings growth. The company's non-GAAP revenue came in at $11.4 billion, a 12% increase from the same period last year. Non-GAAP earnings per share (EPS) were $2.34, an 18% year-over-year increase.
The company attributed the growth to strong demand for its 5G products, which accounted for a majority of its revenue. Qualcomm also saw growth in its automotive and Internet of Things (IoT) segments. The company's strong financial performance reflects continued momentum in the global 5G rollout and the growing adoption of digital technologies.
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