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Qualcomm has announced its financial results for fiscal Q1 2022 (calendar Q4 2021). The US-based chipmaker generated revenue of $10.7 billion, which is 30% more from the first fiscal quarter of 2021. The net income for the company was $3.39 billion or $2.98 per share, which was up from $2.45 billion or $2.12 per share at the same time last year. Qualcomm saw a 38% increase in its income in the quarter.
“Our record quarterly results reflect the strong demand for our products and technologies, with QCT revenues exceeding those of any fabless semiconductor company,” said Cristiano Amon, President, and CEO of Qualcomm Incorporated. “We are at the beginning of one of the largest opportunities in our history, with our addressable market expanding by more than seven times to approximately $700 billion in the next decade. Our one technology roadmap positions us as the partner of choice for both mobile and the connected intelligent edge.”
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Qualcomm's chip business, QCT, reported $8.84 billion in sales, up 35% from the same quarter last year. However, growth slowed from the 63% it reported during the same quarter last year. Qualcomm breaks down the chip division into four categories and each reported growth during the quarter. The main source driving the revenue for Qualcomm was its handset chip sales, which brought $5.98 billion.
The full breakdown of Qualcomm’s other business segment looks like this;
- Automotive division: $256 million (up 21% YoY)
- IoT division: $1.48 billion (up 41% YoY)
- RF front-end: $1.13 billion (up 7% YoY), Qualcomm’s wireless connectivity chip division
- QTL (licensing division): $1.81 billion (up 10% YoY)
Furthermore, Qualcomm repurchased $1.2 billion in shares during the quarter and issued $765 million in dividends.
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