Qualcomms quarterly revenue rose 30 and the company is poised

Qualcomm’s quarterly revenue rose 30%, and the company is poised for continued growth

Qualcomm Technologies’ financial results in its most recent quarter (for the company, this is the first quarter of fiscal 2022) show that demand for mobile components remains strong. The company’s revenue reached $10.7 billion versus the expected $10.4 billion, up 30% year-on-year, and direct sales of chips for mobile devices brought the company $6 billion, an increase of more than 60%.

Image source: Qualcomm Technologies

Image source: Qualcomm Technologies

In the current quarter, Qualcomm wants to increase from 10.2 to 11 billion US dollars, which is also higher than the analysts’ expectations, which have been specified at 9.6 billion US dollars.

Its chip design and supply business, QCT, grew revenue 35% year-over-year to $8.85 billion, but revenue growth in this division has slowed compared to the year-ago period. when it immediately jumped 63%. Qualcomm CEO Cristiano Amon said the upbeat revenue guidance for the quarter reflects the company’s confidence in its ability to ramp up component shipments after successfully addressing chip shortages. On the other hand, he added, Qualcomm still believes demand is outstripping supply and could ship more chips if it could.

Image source: Qualcomm Technologies

Image source: Qualcomm Technologies

Last quarter, Qualcomm’s revenue growth was fueled by mobile processor shipments for Android smartphones, which boosted the company’s core earnings by more than 60%. Overall, Qualcomm toward smartphones gained about $6 billion in quarterly earnings, up 42% from a year earlier. RF components sales grew 7% to $1.1 billion, with Android devices growing 25%.

Image source: Qualcomm Technologies

Image source: Qualcomm Technologies

Qualcomm’s automotive business is still making do with much more modest revenue — $256 million for the quarter, but showing good momentum in the form of revenue growth of 21%. The company has managed to win major customers such as GM, BMW and Renault for its platforms for the development of active driver assistance systems. Finally, its focus on the Internet of Things boosted Qualcomm’s core revenue by 41% to $1.5 billion.

Qualcomm’s technology licensing revenue rose 10% year over year to $1.8 billion. Apparently, other business areas drive the company’s revenue more than royalties from patents licensed to third parties.


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Johnson Smith

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