Qualcomm published better-than-expected fourth quarter financial results on Wednesday, with the solid revenue growth across the industries and applications it serves.
Qualcomm’s non-GAAP diluted earnings per share in Q4 came to $2.55. Revenue was $9.32 billion, up 43% year-over-year.
Wall Street was expecting earnings of $2.26 on revenue of $8.86 billion.
For the full fiscal year 2021, Qualcomm’s non-GAAP EPS came to $8.54 on GAAP revenues of $33.6 billion.
“As of fiscal 2021, we are exceeding our 2019 Analyst Day targets for revenue growth and diversification and operating margin expansion, while more than doubling our year-over-year Non-GAAP EPS,” CEO Cristiano Amon said in a statement. “We are well positioned to continue to lead in mobile and enable the digital transformation of industries with our broad portfolio of relevant technologies. Our results across RF front-end, Automotive and IoT attest to the success of our technology roadmap and revenue diversification strategy.”
Qualcomm
Fourth quarter revenues from the Qualcomm Technology Licensing (QTL) segment, Qualcomm’s licensing division, came to $1.56 billion, a 3% increase year-over-year. QTL accounts for a significant portion of Qualcomm’s earnings.
The company’s other business segment, QCT (Qualcomm CDA Technologies), accounts for most of its revenue. QCT revenues in Q4 were $7.73 billion, a 56% increase year-over-year. Within QCT, revenue from handsets grew 56% to $4.69 billion. RF front-end revenue grew 45% to reach $1.23 billion. IoT revenue grew 66% to hit $1.54 billion. Lastly, automotive revenue grew 44% to $270 million.
For FY 2021, QTL revenues were $6.32 billion, up 26%. Revenues from QCT came to $27 billion, up 64%.
For the first quarter of FY 2022, Qualcomm expects revenues between $10 billion and $10.8 billion, with QCT accounting for $8.4 billion to $8.9 billion. Wall Street is expecting total revenue of $9.7 billion in Q1.
Article source: https://www.zdnet.com/article/qualcomm-beats-q4-expectations-delivers-solid-q1-outlook/#ftag=RSSbaffb68