QUALCOMM INC/DE Files 10-Q for Period Ending March 24, 2024

TL;DR

<b>QUALCOMM INC/DE filed its quarterly report (10-Q) for the period ending March 24, 2024, detailing financial performance and segment data.</b>

AI Summary

QUALCOMM INC/DE (QCOM) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. QUALCOMM INC/DE filed a 10-Q report for the period ending March 24, 2024. The filing covers the company's financial performance and position. Key financial statement data points are included in the report. The report details common stock, retained earnings, and accumulated other comprehensive income. Segment data for QCT Handsets and Automotive is presented.

Why It Matters

For investors and stakeholders tracking QUALCOMM INC/DE, this filing contains several important signals. This 10-Q filing provides investors with the latest financial snapshot of QUALCOMM INC/DE, crucial for understanding recent performance and making informed investment decisions. The inclusion of segment data for Handsets and Automotive offers insight into the performance drivers within QUALCOMM's diverse business units.

Risk Assessment

Risk Level: — QUALCOMM INC/DE shows moderate risk based on this filing. The filing is a standard 10-Q, which is a routine disclosure for public companies and does not inherently contain new, significant risks.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to assess QUALCOMM's current operational health and future prospects.

Key Numbers

• 2024-03-24 — Period End Date (The 10-Q filing covers this period.)
• 2024-05-01 — Filing Date (The 10-Q was filed on this date.)

Key Players & Entities

• QUALCOMM INC/DE (company) — Filer of the 10-Q report
• 0000804328 (company) — Central Index Key for QUALCOMM INC/DE
• 2024-03-24 (date) — Period of report for the 10-Q filing
• 2024-05-01 (date) — Filing date of the 10-Q report

FAQ

Industry Context

QUALCOMM operates in the semiconductor industry, focusing on wireless technology and mobile communications.

Regulatory Implications

Companies like QUALCOMM are subject to SEC regulations for financial reporting, including the requirement to file 10-Q quarterly reports.

What Investors Should Do

1. Analyze the balance sheet details for common stock, retained earnings, and accumulated other comprehensive income as of March 24, 2024.
2. Examine the segment information provided for QCT Handsets and Automotive to understand revenue contributions and trends.
3. Compare the financial data presented in this 10-Q with previous filings to identify any significant changes or trends.

Key Dates

• 2024-03-24: Period End Date — The end date for the financial reporting period covered by the 10-Q.
• 2024-05-01: Filing Date — The date QUALCOMM INC/DE officially submitted the 10-Q to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the specified period and does not provide direct comparative figures to a prior filing within this extract.

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value QCOM The Nasdaq Stock Market

Filing Documents

• qcom-20240324.htm (10-Q) — 1154KB
• qcom032424ex105.htm (EX-10.5) — 365KB
• qcom032424ex311.htm (EX-31.1) — 10KB
• qcom032424ex312.htm (EX-31.2) — 10KB
• qcom032424ex321.htm (EX-32.1) — 5KB
• qcom032424ex322.htm (EX-32.2) — 5KB
• 0000804328-24-000039.txt (&nbsp;) — 5362KB
• qcom-20240324.xsd (EX-101.SCH) — 25KB
• qcom-20240324_cal.xml (EX-101.CAL) — 58KB
• qcom-20240324_lab.xml (EX-101.LAB) — 438KB
• qcom-20240324_pre.xml (EX-101.PRE) — 271KB
• qcom-20240324_def.xml (EX-101.DEF) — 89KB
• qcom-20240324_htm.xml (XML) — 617KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations 7 Condensed Consolidated Statements of Comprehensive Income 8 Condensed Consolidated Statements of Cash Flows 9 Condensed Consolidated Statements of Stockholders' Equity 10 Notes to Condensed Consolidated Financial Statements 11 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults Upon Senior Securities 48 Item 4. Mine Safety Disclosures 48 Item 5. Other Information 48 Item 6. Exhibits 49

SIGNATURES

SIGNATURES 50 3 Risk Factors Summary: Our business is subject to numerous risks and uncertainties, including those described in the section labeled "Risk Factors" in "Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations" of this Quarterly Report. These risks include, but are not limited to, the following: RISKS RELATED TO OUR OPERATING BUSINESSES We derive a significant portion of our revenues from a small number of customers and licensees, and particularly from their sale of premium tier handset devices. If revenues derived from these customers or licensees decrease or the timing of such revenues fluctuates, our business and results of operations could be negatively affected. Our business, particularly our semiconductor business, may suffer as a result of our customers vertically integrating (i.e., developing their own integrated circuit products). A significant portion of our business is concentrated in China, and the risks of such concentration are exacerbated by U.S./China trade and national security tensions. RISKS RELATED TO NEW INITIATIVES Our growth depends in part on our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets. Our research, development and other investments in these new and expanded product areas, industries and applications, and related technologies and products, as well as in our existing technologies and products, and new technologies, may not generate operating income or contribute to future results of operations that meet our expectations. We may engage in acquisitions and other strategic transactions or make investments, or be unable to consummate planned strategic acquisitions, which could adversely affect our results of operations or fail to enhance stockholder value. RISKS RELATED TO SUPPLY AND MANUFACTURING We depend on a limited number of third-party suppliers for the procurement, man

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) QUALCOMM Incorporated CONDENSED CONSOLIDATED BALANCE SHEETS (In millions, except par value amounts) (Unaudited) March 24, 2024 September 24, 2023 ASSETS Current assets: Cash and cash equivalents $ 9,219 $ 8,450 Marketable securities 4,632 2,874 Accounts receivable, net 3,054 3,183 Inventories 6,087 6,422 Held for sale assets — 341 Other current assets 1,240 1,194 Total current assets 24,232 22,464 Deferred tax assets 3,978 3,310 Property, plant and equipment, net 4,724 5,042 Goodwill 10,760 10,642 Other intangible assets, net 1,331 1,408 Held for sale assets — 88 Other assets 8,142 8,086 Total assets $ 53,167 $ 51,040 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Trade accounts payable $ 2,314 $ 1,912 Payroll and other benefits related liabilities 1,253 1,685 Unearned revenues 253 293 Short-term debt 914 914 Held for sale liabilities — 333 Other current liabilities 4,409 4,491 Total current liabilities 9,143 9,628 Unearned revenues 135 99 Income taxes payable 526 1,080 Long-term debt 14,543 14,484 Held for sale liabilities — 38 Other liabilities 4,351 4,130 Total liabilities 28,698 29,459 Commitments and contingencies (Note 5) Stockholders' equity: Preferred stock, $ 0.0001 par value; 8 shares authorized; no ne outstanding — — Common stock and paid-in capital, $ 0.0001 par value; 6,000 shares authorized; 1,118 and 1,114 shares issued and outstanding, respectively 66 490 Retained earnings 23,965 20,733 Accumulated other comprehensive income 438 358 Total stockholders' equity 24,469 21,581 Total liabilities and stockholders' equity $ 53,167 $ 51,040 See accompanying notes. 6 QUALCOMM Incorporated CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except per share data) (Unaudited) Three Months Ended Six Months Ended March 24, 2024 March 26, 2023 March 24, 2024 March 26, 2023 Revenues: Equipment and services $

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View this 10-Q filing on SEC EDGAR