QUALCOMM (QCOM) Revenue — Quarter Ended Dec 24, 2023
Revenue for the quarter increased compared to both the immediately preceding period and the same period one year earlier. This marks a reversal from the sequential declines seen in the prior three quarters.
Key takeaway
Quarter ended Dec 24, 2023 · FY2024 Q1
Revenue for the quarter increased compared to both the immediately preceding period and the same period one year earlier. This marks a reversal from the sequential declines seen in the prior three quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$9.9B
Revenue reported for this quarter.
Quarter-over-quarter
+15.1%
Change from the immediately preceding quarter.
Year-over-year
+5.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$36.3B
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 |
|---|---|---|
| Mar 26, 2023 | $9.3B | -16.9% |
| Jun 25, 2023 | $8.5B | -22.7% |
| Sep 24, 2023 | $8.6B | -24.3% |
| Dec 24, 2023 | $9.9B | +5.0% |
Revenue performance
The reported revenue direction was upward, supported by a sequential gain and a more modest year-over-year increase. The company's filing notes that a significant portion of revenues comes from a small number of customers and licensees.
Quarterly comparison
Revenue rose from the prior quarter, following three consecutive quarters of decline. Compared with the same quarter one year earlier, revenue also advanced, though at a slower pace than the sequential change.
What to watch
The filing highlights risks related to customer concentration, a factor that may continue to influence revenue stability.