Qualcomm Inc. reported its fourth-quarter earnings for fiscal year 2024, revealing a revenue of $10.24 billion, which represents an 18.22% year-over-year increase and exceeds analyst expectations by $344 million. The earnings per share (EPS) stood at $2.69, surpassing estimates of $2.56 by $0.13 and reflecting a 33.17% year-over-year growth. The company also noted a significant 86% increase in automotive revenue and an 18% rise in chip sales. Following the announcement, Qualcomm's stock surged by 7.8% in after-hours trading. The company provided a strong outlook for the first quarter of 2025, contributing to positive market sentiment around its performance. In a separate earnings report, Axon Enterprise released its third-quarter results, reporting revenue of $544.27 million, which is above the expected $525.06 million, and an EPS of $1.45, exceeding the forecast of $1.20.