Qualcomm, the semiconductor company, dealing in wireless technology, released its earnings after the market closed on Wednesday.
- GAAP Revenue: $9.336 billion
- EPS: $2.45
- Net Income: $2.798 billion
Earnings Highlights Fiscal 2021
- Revenue: $33.56 billion
- EBT: $10.274 billion
- Net Income: $9.043 billion
- EPS: $7.87
“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,” said Cristiano Amon, President, and CEO of Qualcomm Incorporated. “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.”
The analysts had anticipated that the company would release a year-over-year gain in revenues because of the long-term patent deals. The QTL segment was estimated to bring the most revenues as it generates the same from licenses from various patent rights used to manufacture and sell wireless products.
The EPS was estimated to be $2.27, and the GAAP revenue was expected to be $8.4billion-$9.2 billion.
In the last quarter, the estimated EPS was $1.4, but the company released the earnings per share to be $1.66 with an 18.57% surprise.
The Forecast for the next quarter, the first quarter of the fiscal year 2022, is estimated to be $2.41 per share.
Recently Qualcomm (QCOM) announced that it aspires to achieve net-zero emissions by the year 2040. The company has already started working towards this goal as it has already purchased 100% renewable energy to be used at its San Diego Headquarters.