CLAIM #51448 · Qualcomm Incorporated (QCOM) · 2024Q2 earnings call · May 1, 2024 · due Sep 30, 2026
“But if you kind of take the current run rate and extend it forward towards the $4 billion target, kind of generally slope x -- slope growth increase between the 2 data points is a reasonable way of thinking about it.”
Akash Palkhiwala · CFO
How to check this claim
Look at: Automotive segment revenue, annual (fiscal year)
It came true if: Automotive revenue reaches approximately $4 billion in fiscal 2026, consistent with roughly linear growth trajectory from the fiscal 2024 run rate
Where: Company-disclosed segment revenue (10-K / earnings release, Automotive segment)
In context
“argin, and it's driven by the return mix that we've discussed on the call. What we're guiding for the third quarter is a sequential decline, again, reflecting kind of lack of flagship launches in the quarter. No change to what we've said on gross margins before. We've given a range, and we've been operating at the high end of the range, but no kind of fundamentally change on the framework of it going forward. Christopher Muse: Great. As a quick follow-up, on the auto side, you talked about the higher reiterated the $4 billion plus. Should we be thinking about kind of amortizing that 26-plus percent growth equally into fiscal '25-'26? Or might that come in sooner with faster growth. Akash Palkhiwala: Yes. So I mean, obviously, we are not kind of guiding quarters that far out at this point. But if you kind of take the current run rate and extend it forward towards the $4 billion target, kind of generally slope x -- slope growth increase between the 2 data points is a reasonable way of thinking about it. Operator: That concludes today's question-and-answer session. Mr. Amon, do you have anything further to add before adjourning the call? Cristiano Amon: Yes. Just a few questions, I think we're incredibly pleased with our technology and product road map evolution. And we're really looking forward to our next-generation PCs with Snapdragon as I said during the call, I encourage everyone to look at the announcement from Microsoft Build and how that's going to drive much more AI into the Qualcomm platform. And I was just going to leave you all with a thought. One great things about the execution of the company. Every time we enter a new market or we set ourselves to go to a new market, and we end up building a very strong position. We went from mobile to RF front-end, we became #1. Same thin”
Verify independently
SEC filings for QCOM ↗ · Claim quote is verbatim from the 2024Q2 earnings call.