Qualcomm Inc. (NASDAQ:QCOM)

The annual revenue data reflects distinct trends across various segments over the six-year period. Overall revenue shows a general upward trajectory, increasing from $24,273 million in 2019 to $38,962 million in 2024, with notable fluctuations.

Handsets

This segment demonstrates substantial growth, rising from $9,793 million in 2019 to a peak of $25,027 million in 2022, followed by a slight decline in 2023 to $22,570 million, and a recovery to $24,863 million in 2024. The substantial increase up to 2022 indicates strong demand or product expansion within this category.

RFFE (Radio Frequency Front End)

Revenue shows consistent growth from 2019 ($1,478 million) to 2022 ($4,330 million), more than doubling in this period. However, no data is available for 2023 and 2024, limiting analysis of recent trends.

Automotive

The automotive segment exhibits steady growth each year, from $640 million in 2019 to $2,910 million in 2024. The acceleration is particularly marked between 2023 and 2024, indicating a rapidly expanding market presence or increased product adoption in this sector.

IoT, Internet of Things

Initially on an upward trend from $2,728 million in 2019 to $6,948 million in 2022, this segment experiences a decline thereafter, dropping to $5,940 million in 2023 and further to $5,423 million in 2024. This downward shift may suggest market saturation, increased competition, or strategic realignment.

Qualcomm CDMA Technologies (QCT)

This segment shows robust growth from $14,639 million in 2019 to a peak of $37,677 million in 2022. However, revenues contract in the following years to $30,382 million in 2023, with a partial recovery to $33,196 million in 2024. The peak and subsequent decline mirror trends observed in handset revenues, suggesting correlated dynamics.

Qualcomm Technology Licensing (QTL)

Revenues here increase steadily from $4,591 million in 2019 to $6,358 million in 2022, followed by a decrease to $5,306 million in 2023 and a moderate rise to $5,572 million in 2024. This indicates some volatility but generally maintains a high revenue base.

Qualcomm Strategic Initiatives (QSI)

Revenues in this category decline over the period, dropping from $152 million in 2019 to $18 million in 2024. The consistent decrease suggests reduced emphasis or divestment in these initiatives.

Nonreportable Segments

This category remains relatively stable with slight fluctuations, ranging between $128 million and $176 million, indicating consistent but minor contributions to total revenue.

Unallocated Revenues

There is a marked decrease from a positive $4,723 million in 2019 to $54 million in 2021, followed by negative values in 2023 (-$40 million). The absence of data for 2022 and 2024 adds uncertainty, but the trend suggests diminishing unallocated revenue contributions and potential reallocations.

Reconciling Items

Revenues in this category decline sharply from $4,891 million in 2019 to $104 million in 2023, before a slight increase to $176 million in 2024. The overall reduction points to improved alignment of reported segments or changes in accounting classifications.

Total Revenues

Total revenue increases significantly from 2019 ($24,273 million) to 2022 ($44,200 million), followed by a decline in 2023 ($35,820 million) and an increase again in 2024 ($38,962 million). This pattern reflects the volatility especially in core technology and handset segments during the latter years.