Qualcomm Tops Forecasts - Guides Up
November 4, 2021
Qualcomm reported results for its fiscal fourth quarter and year ended September 26, 2021. The firm reported EPS of $2.55, adjusted with only $2.26 expected. As to revenue, mobile chip maker took in $9.3 billion, adjusted with only $8.86 billion expected.
Qualcomm is looking for between $10 billion and $10.8 billion in sales in the current quarter, higher than the $9.68 billion expected by analysts.
“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.”