QUALCOMM (QCOM) Revenue — Quarter Ended Sep 24, 2023
Revenue increased from the previous quarter but declined sharply compared to the same quarter last year. The sequential improvement reversed a prior period decline, yet the year-over-year comparison remained deeply negative.
Key takeaway
Quarter ended Sep 24, 2023 · FY2023 Q4
Revenue increased from the previous quarter but declined sharply compared to the same quarter last year. The sequential improvement reversed a prior period decline, yet the year-over-year comparison remained deeply negative.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$8.6B
Revenue reported for this quarter.
Quarter-over-quarter
+2.1%
Change from the immediately preceding quarter.
Year-over-year
-24.3%
Change from the comparable year-ago quarter.
Trailing four quarters
$35.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 25, 2022 | $9.5B | -11.6% |
| Mar 26, 2023 | $9.3B | -16.9% |
| Jun 25, 2023 | $8.5B | -22.7% |
| Sep 24, 2023 | $8.6B | -24.3% |
Revenue performance
The reported revenue rose versus the immediately preceding quarter, indicating a modest rebound from the prior period’s level. The trailing twelve-month revenue aggregated to a notably lower total than the same trailing period a year earlier.
Quarterly comparison
Compared with the prior quarter, revenue moved higher, ending a string of sequential declines observed earlier in the fiscal year. However, against the same quarter one year ago, revenue posted a substantial decrease, consistent with the downward trend seen throughout the year.
What to watch
The trajectory of year-over-year revenue declines warrants attention as the company attempts to stabilize growth after multiple periods of contraction.