QUALCOMM INC/DE0000804328false5775 Morehouse DriveSan DiegoCalifornia00008043282025-02-052025-02-05

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

February 5, 2025
Date of Report (Date of earliest event reported)
QUALCOMM Incorporated
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
000-1952895-3685934
(Commission File Number)(IRS Employer Identification No.)
5775 Morehouse Drive, San Diego, California
92121
(Address of principal executive offices)(Zip Code)

858-587-1121
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
 Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.0001 par value QCOMThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company  ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Item 2.02.    Results of Operations and Financial Condition.
On February 5, 2025, QUALCOMM Incorporated (the Company) issued a press release regarding the Company’s financial results for its first quarter of fiscal 2025. A copy of that press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The press release includes Non-GAAP financial measures as defined in Regulation G. The press release also includes the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP), information reconciling the Non-GAAP financial measures to the GAAP financial measures and a discussion of the reasons why the Company’s management believes that presentation of the Non-GAAP financial measures provides useful information to investors regarding the Company’s financial condition and results of operations. The Non-GAAP financial measures presented therein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP.





Item 9.01.    Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description
Press Release by QUALCOMM Incorporated dated February 5, 2025.
104Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 QUALCOMM Incorporated
Date: February 5, 2025By:/s/ Akash Palkhiwala
  Akash Palkhiwala
  Chief Financial Officer and Chief Operating Officer



Exhibit 99.1
FOR IMMEDIATE RELEASE
Qualcomm Contact:
Mauricio Lopez-Hodoyan
Vice President, Investor Relations
Phone: 1-858-658-4813 | e-mail: ir@qualcomm.com
Qualcomm Announces First Quarter Fiscal 2025 Results
Record Revenues: $11.7 billion
GAAP EPS: $2.83, Record Non-GAAP EPS: $3.41
—Record Quarterly QCT Revenues of Greater Than $10 Billion—
—QCT Handsets: Record Quarterly Revenues—
—QCT Automotive: 6th Consecutive Quarter of Record Revenues—
SAN DIEGO - February 5, 2025 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal first quarter ended December 29, 2024.
“We are very pleased to have achieved quarterly revenue records, which reflect the strength of our technology, product roadmap and end-customer demand,” said Cristiano Amon, CEO of Qualcomm Incorporated. “We are delivering growth across our diversification initiatives and remain committed to executing on our fiscal 2029 targets to achieve $22 billion of non-handset revenues.”
First Quarter Results1

GAAPNon-GAAP
(in millions, except per share data and percentages)Q1 Fiscal 2025Q1 Fiscal 2024ChangeQ1 Fiscal 2025Q1 Fiscal 2024Change
Revenues$11,669$9,935+17%$11,669$9,922+18%
Earnings before taxes (EBT)$3,635$2,962+23%$4,427$3,585+23%
Net income$3,180$2,767+15%$3,830$3,101+24%
Diluted earnings per share (EPS)$2.83$2.46+15%$3.41$2.75+24%
(1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.”
Segment Results
QCTQTL
(in millions, except percentages)Q1 Fiscal 2025Q1 Fiscal 2024ChangeQ1 Fiscal 2025Q1 Fiscal 2024Change
Revenues$10,084$8,423+20%$1,535$1,460+5%
EBT$3,246$2,593+25%$1,158$1,080+7%
EBT as % of revenues32%31%+1 point75%74%+1 point

Qualcomm Announces First Quarter Fiscal 2025 Results
Page 2 of 8

QCT Revenue Streams1
(in millions, except percentages)Q1 Fiscal 2025Q1 Fiscal 2024Change
Handsets$7,574$6,687+13%
Automotive961598+61%
IoT1,5491,138+36%
Total QCT revenues$10,084$8,423+20%
(1) We disaggregate QCT revenues based on the industries and applications in which our products are sold.
Return of Capital to Stockholders
During the first quarter of fiscal 2025, we returned $2.7 billion to stockholders, including $942 million, or $0.85 per share, of cash dividends paid and $1.8 billion through repurchases of 11 million shares of common stock.

Business Outlook
The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent quarterly report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.
The following table summarizes GAAP and Non-GAAP guidance based on the current outlook.
Current Guidance
Q2 FY25 Estimates1
GAAP Revenues
$10.3B - $11.2B
Less revenues attributable to other items2
$0.1B - $0.2B
Non-GAAP Revenues$10.2B - $11.0B
Supplemental Revenue Information
QCT revenues$8.9B - $9.5B
QTL revenues$1.25B - $1.45B
GAAP diluted EPS$2.38 - $2.58
Less diluted EPS attributable to QSI$— 
Less diluted EPS attributable to share-based compensation($0.52)
Less diluted EPS attributable to other items2
$0.20 
Non-GAAP diluted EPS$2.70 - $2.90
(1) Our outlook does not include provisions for proposed tax law changes, future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our financial outlook to the extent they are reasonably certain. Our outlook includes the impact of any pending business combinations to the extent they are expected to close in the upcoming quarter. Actual results may differ materially from the outlook.
(2) Our guidance for revenues and diluted EPS attributable to other items excluded from Non-GAAP for the second quarter of fiscal 2025 is primarily related to expected revenues resulting from the settlement of a dispute. Our guidance for diluted EPS attributable to other items excluded from Non-GAAP for the second quarter of fiscal 2025 also includes the requirement to capitalize research and development expenditures under U.S. Federal income tax law, partially offset by acquisition-related items.

Qualcomm Announces First Quarter Fiscal 2025 Results
Page 3 of 8

Conference Call and Available Information
Qualcomm’s first quarter fiscal 2025 earnings conference call will be broadcast live on February 5, 2025, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events. This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and information reconciling these Non-GAAP financial measures to our financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed on the conference call, will be posted to our Investor Relations website at https://investor.qualcomm.com immediately prior to the commencement of the call. An audio replay will be available on our website and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13750899.

Our Investor Relations website at https://investor.qualcomm.com contains a significant amount of information about us, including financial and other information for investors, and it is possible that this information could be deemed to be material information. Accordingly, investors and others interested in Qualcomm should review the information posted on our website in addition to following our press releases, SEC filings and public conference calls and webcasts.

About Qualcomm
Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated.

Note Regarding Forward-Looking Statements
In addition to the historical information contained herein, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: the strength of our technology, product roadmap and end-customer demand; our diversification initiatives; our fiscal 2029 targets to achieve $22 billion of non-handset revenues; our business outlook; and our estimates and guidance related to revenues and earnings per share (EPS). Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: our dependence on a small number of customers and licensees, and particularly from their sale of premium-tier handset devices; our customers vertically integrating; a significant portion of our business being concentrated in China, which is exacerbated by U.S./China trade and national security tensions; our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets; our strategic acquisitions, transactions and investments, and our ability to consummate strategic acquisitions; our dependence on a limited number of third-party suppliers; risks associated with the operation and control of our manufacturing facilities; security breaches of our information technology systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information; our ability to attract and retain qualified employees; the continued and future success of our licensing programs, which requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring; efforts by some OEMs to avoid paying fair and reasonable royalties for the use of our intellectual property, and other attacks on our licensing business model; potential changes in our patent licensing practices, whether due to governmental investigations, legal challenges or otherwise; adverse rulings in governmental investigations or proceedings or other legal proceedings; our customers’ and licensees’ sales of products and services based on CDMA, OFDMA and other communications technologies, including 5G, and our customers’ demand for our products based on these technologies; competition in an environment of rapid technological change, and our ability to adapt to such change and compete effectively; failures in our products or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors; difficulties in enforcing and protecting our intellectual property rights; claims by third parties that we infringe their intellectual property; our use of open source software; the cyclical nature of the semiconductor industry, declines in global, regional or local economic conditions, or our stock price and earnings volatility; geopolitical conflicts, natural disasters, pandemics and other health crises, and other factors outside of our control; our ability to comply with laws, regulations, policies and standards; our indebtedness; and potential tax liabilities. These and other risks are set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended December 29, 2024 filed with the SEC. Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.

Qualcomm Announces First Quarter Fiscal 2025 Results
Page 4 of 8

QUALCOMM Incorporated
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except par value amounts)
(Unaudited)
December 29,
2024		September 29,
2024
ASSETS
Current assets:  
Cash and cash equivalents$8,713 $7,849 
Marketable securities5,592 5,451 
Accounts receivable, net3,550 3,929 
Inventories6,303 6,423 
Other current assets1,907 1,579 
Total current assets26,065 25,231 
Deferred tax assets5,409 5,162 
Property, plant and equipment, net4,460 4,665 
Goodwill10,908 10,799 
Other intangible assets, net1,225 1,244 
Other assets7,508 8,053 
Total assets$55,575 $55,154 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:  
Trade accounts payable$2,581 $2,584 
Payroll and other benefits related liabilities1,424 1,834 
Unearned revenues212 297 
Short-term debt1,365 1,364 
Other current liabilities4,372 4,425 
Total current liabilities9,954 10,504 
Unearned revenues77 88 
Long-term debt13,212 13,270 
Other liabilities5,452 5,018 
Total liabilities28,695 28,880 
Stockholders’ equity:  
Preferred stock, $0.0001 par value; 8 shares authorized; none outstanding— — 
Common stock and paid-in capital, $0.0001 par value; 6,000 shares authorized; 1,106 and 1,113 shares issued and outstanding, respectively— — 
Retained earnings26,607 25,687 
Accumulated other comprehensive income273 587 
Total stockholders’ equity26,880 26,274 
Total liabilities and stockholders’ equity$55,575 $55,154 


Qualcomm Announces First Quarter Fiscal 2025 Results
Page 5 of 8

QUALCOMM Incorporated
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
 Three Months Ended
December 29,
2024		December 24,
2023
Revenues:  
Equipment and services$9,942 $8,316 
Licensing1,727 1,619 
Total revenues11,669 9,935 
Costs and expenses:
Cost of revenues5,161 4,312 
Research and development2,230 2,096 
Selling, general and administrative723 627 
Other
— (28)
Total costs and expenses8,114 7,007 
Operating income3,555 2,928 
Interest expense(163)(178)
Investment and other income, net243 212 
Income from continuing operations before income taxes3,635 2,962 
Income tax expense(455)(151)
Income from continuing operations3,180 2,811 
Discontinued operations, net of income taxes— (44)
Net income$3,180 $2,767 
Basic earnings (loss) per share:
Continuing operations$2.86 $2.52 
Discontinued operations— (0.04)
Net income$2.86 $2.48 
Diluted earnings (loss) per share:
Continuing operations$2.83 $2.50 
Discontinued operations— (0.04)
Net income$2.83 $2.46 
Shares used in per share calculations:  
Basic1,110 1,116 
Diluted1,122 1,127 


Qualcomm Announces First Quarter Fiscal 2025 Results
Page 6 of 8

QUALCOMM Incorporated
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
December 29,
2024		December 24,
2023
Operating Activities:
Net income from continuing operations$3,180 $2,811 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense436 437 
Income tax provision in excess of (less than) income tax payments247 (1,012)
Share-based compensation expense759 602 
Net gains on marketable securities and other investments(45)(71)
Other items(23)9 
Changes in assets and liabilities:
Accounts receivable, net392 (325)
Inventories111 165 
Other assets148 115 
Trade accounts payable11 241 
Payroll, benefits and other liabilities(541)74 
Unearned revenues(88)(81)
Net cash used by operating activities from discontinued operations— (16)
Net cash provided by operating activities4,587 2,949 
Investing Activities:
Capital expenditures(277)(214)
Purchases of debt and equity marketable securities(914)(1,452)
Proceeds from sales and maturities of debt and equity marketable securities752 463 
Acquisitions and other investments, net of cash acquired(260)(60)
Other items28 7 
Net cash used by investing activities(671)(1,256)
Financing Activities:
Proceeds from short-term debt500 400 
Repayment of short-term debt(500)(400)
Repurchases and retirements of common stock(1,750)(784)
Dividends paid(942)(895)
Payments of tax withholdings related to vesting of share-based awards(315)(370)
Other items(1)8 
Net cash used by financing activities(3,008)(2,041)
Effect of exchange rate changes on cash and cash equivalents(44)15 
Net increase (decrease) in total cash and cash equivalents864 (333)
Total cash and cash equivalents at beginning of period (including $77 classified as held for sale at September 24, 2023)7,849 8,527 
Total cash and cash equivalents at end of period (including $61 classified as held for sale at December 24, 2023)$8,713 $8,194 
                    

Qualcomm Announces First Quarter Fiscal 2025 Results
Page 7 of 8

Note Regarding Use of Non-GAAP Financial Measures
The Non-GAAP financial measures presented herein should be considered in addition to, not as a substitute for or superior to, financial measures calculated in accordance with GAAP. In addition, “Non-GAAP” is not a term defined by GAAP, and as a result, our Non-GAAP financial measures might be different than similarly titled measures used by other companies. Reconciliations between GAAP and Non-GAAP financial measures are presented herein.
We use Non-GAAP financial information: (i) to evaluate, assess and benchmark our operating results on a consistent and comparable basis; (ii) to measure the performance and efficiency of our ongoing core operating businesses, including our QCT (Qualcomm CDMA Technologies) and QTL (Qualcomm Technology Licensing) segments; and (iii) to compare the performance and efficiency of these segments against competitors. Non-GAAP measurements used by us include revenues, cost of revenues, research and development (R&D) expenses, selling, general and administrative (SG&A) expenses, other income or expenses, operating income, interest expense, net investment and other income, income or earnings before income taxes, effective tax rate, net income and diluted earnings per share. We are able to assess what we believe is a meaningful and comparable set of financial performance measures by using Non-GAAP information. In addition, the HR and Compensation Committee of our Board of Directors uses certain Non-GAAP financial measures in establishing portions of the performance-based incentive compensation programs for our executive officers. We present Non-GAAP financial information to provide greater transparency to investors with respect to our use of such information in financial and operational decision-making. This Non-GAAP financial information is also used by institutional investors and analysts in evaluating our business and assessing trends and future expectations.
Non-GAAP information presented herein excludes our QSI (Qualcomm Strategic Initiatives) segment and certain share-based compensation, acquisition-related items, tax items and other items.
•QSI is excluded because we generally expect to exit our strategic investments in the foreseeable future, and the effects of fluctuations in the value of such investments and realized gains or losses are viewed as unrelated to our operational performance.
•Share-based compensation expense primarily relates to restricted stock units. We believe that excluding share-based compensation from Non-GAAP financial information allows us and investors to make additional comparisons of the operating activities of our ongoing core businesses over time and with respect to other companies.
•Certain other items are excluded because we view such items as unrelated to the operating activities of our ongoing core businesses, as follows:
◦Acquisition-related items include amortization of acquisition-related intangible assets, substantially all of which relate to the amortization of technology-based intangible assets that is recorded in cost of revenues and will recur in future periods until the related intangible assets have been fully amortized. We view acquisition-related intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. Acquisition-related intangible assets contribute to revenue generation that has not been excluded from our Non-GAAP financial information. Acquisition-related items also include recognition of the step-up of inventories and property, plant and equipment to fair value and the related tax effects of acquisition-related items, as well as any effects from restructuring the ownership of such acquired assets. We also exclude the operating results of acquired and/or consolidated businesses that, as of close, are expected or required to be sold. Additionally, we exclude certain other acquisition-related charges such as third-party acquisition and integration services costs and costs related to temporary debt facilities and letters of credit executed prior to the close of an acquisition.
◦We exclude certain other items that we view as unrelated to our ongoing businesses, such as major restructuring and restructuring-related costs, asset impairments and awards, settlements and/or damages arising from legal or regulatory matters. We exclude gains and losses driven by the revaluation of our deferred compensation plan liabilities recognized in operating expenses and the offsetting gains and losses on the related plan assets recognized in investment and other income (expense).
◦Certain tax items that are unrelated to the fiscal year in which they are recorded are excluded in order to provide a clearer understanding of our ongoing Non-GAAP tax rate and after-tax earnings. Beginning in the first quarter of fiscal 2023 and for the initial five-year period in which we are required to capitalize and amortize R&D expenditures for U.S. federal income tax purposes, we also exclude the favorable impact to our provision for income taxes and results of operations resulting from such change in treatment of R&D expenditures. The favorable tax provision impact will diminish in future years as capitalized research and development expenditures continue to amortize.

Qualcomm Announces First Quarter Fiscal 2025 Results
Page 8 of 8

Reconciliations of GAAP Results to Non-GAAP Results
(in millions, except per share data and percentages)GAAP to Non-GAAP ReconciliationNon-GAAP Supplemental Information
GAAP ResultsLess QSILess Share-Based Compensation
Less Other Items1
Non-GAAP ResultsQCTQTL
Non-GAAP Reconciling Items2
Q1 Fiscal 2025
Revenues$11,669$—$— $— $11,669$10,084$1,535$50
Operating income (loss)3,555(3)(758)(67)4,383
EBT3,63519(758)(53)4,4273,2461,15823
EBT as % of revenues31 %38 %
Net income (loss)3,18015(611)(54)3,830
Diluted EPS$2.83$0.01($0.54)($0.05)$3.41
Diluted shares1,1221,1221,1221,1221,122
Q1 Fiscal 2024
Revenues$9,935$13$— $—$9,922$8,423$1,460$39
Operating income (loss)2,9287(602)(97)3,620
EBT2,96211(602)(32)3,5852,5931,080(88)
EBT as % of revenues30 %36 %
Net income (loss)2,7678(476)1343,101
Diluted EPS$2.46$0.01($0.42)$0.12$2.75
Diluted shares1,1271,1271,1271,1271,127
(1) Further details of amounts included in the “Other Items” column for the current period are included at the end of this news release in the section labeled “Supplemental Information and Reconciliations.” Details of amounts included in the “Other Items” column for the prior period are included in the news release for that period.
(2) Non-GAAP reconciling items related to revenues consisted primarily of nonreportable segment revenues. Non-GAAP reconciling items related to EBT consisted primarily of certain cost of revenues, R&D expenses, SG&A expenses, other expenses or income, interest expense and certain investment income (expense) that are not allocated to segments for management reporting purposes; and nonreportable segment results.
Sums may not equal totals due to rounding.
Q1 Fiscal 2025 Supplemental Information and Reconciliations
(in millions)GAAP ResultsLess QSILess Share-Based Compensation
Less Other Items1, 2
Non-GAAP Results
Cost of revenues$5,161$—$25$34$5,102
Research and development expenses2,230—564171,649
Selling, general and administrative expenses723316916535
Interest expense163——1162
Investment and other income, net
24322—15206
Income tax expense (benefit)
4554(147)1597
(1) Other items excluded from Non-GAAP results included $52 million of acquisition-related charges and $1 million of interest expense related to a fine imposed on us by the European Commission in 2019. Other items excluded from Non-GAAP results also included $15 million of losses driven by the revaluation of our deferred compensation plan liabilities, which increases operating expenses, offset by corresponding $15 million of gains driven by the revaluation of the associated plan assets, which were included within investment and other income, net.
(2) At fiscal year end, the quarterly tax expense for each column equals the annual tax expense (benefit) for each column computed in accordance with GAAP. In interim quarters, the sum of these expenses (benefits) may not equal the total GAAP tax expense, and this difference is included in the tax expense (benefit) in the “Other Items” column. Tax expense in the “Other Items” column included a $164 million foreign currency loss related to a noncurrent receivable resulting from our refund claim of Korean withholding taxes paid in prior periods, partially offset by a $128 million benefit from the foreign-derived intangible income deduction resulting from the requirement to capitalize and amortize R&D expenditures, a $19 million foreign currency gain related to a tax liability accrued in the fourth quarter of fiscal 2024 related to the transfer of intellectual property between foreign subsidiaries, an $8 million benefit for the tax effect of acquisition-related charges, a $6 million benefit to reconcile the tax provision of each column to the total GAAP tax provision for the quarter and a $2 million benefit from the combined effect of other items in EBT.
Sums may not equal totals due to rounding.

v3.25.0.1
Cover Page
Feb. 05, 2025
Cover [Abstract]  
Entity Registrant Name QUALCOMM INC/DE
Entity Central Index Key 0000804328
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Document Type 8-K
Document Period End Date Feb. 05, 2025
Entity Incorporation, State or Country Code DE
Entity File Number 000-19528
Entity Tax Identification Number 95-3685934
Entity Address, Address Line One 5775 Morehouse Drive
Entity Address, City or Town San Diego
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92121
City Area Code 858
Local Phone Number 587-1121
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Title of 12(b) Security Common Stock, $0.0001 par value
Trading Symbol QCOM
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QUALCOMM (NASDAQ:QCOM)
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