Qualcomm Revenue Surges 41% - Beats Big

April 28, 2022

Qualcomm reported  results for its fiscal second quarter ended March 27, 2022.
The firm had EPS of $3.21, adjusted with only $2.91 expected. On the top line, revenue came in at $11.16 billion, adjusted with $10.60 billion expected.

Qualcomm reported QCT (chip sales) of $9.55 billion with $8.86 billion expected. The chip enterprise had QTL (technology licensing) of $1.58 billion with $1.55 billion expected. Qualcomm guided Q3 between $2.75 and $2.95 in earnings per share on $10.9 billion in sales. Investors were looking for Q3 sales of $9.98 billion sales.

"We are pleased to announce another quarter of record revenues, reflecting the successful execution of our growth and diversification strategy and strong demand for our wireless and high-performance, low-power processor technologies across multiple industries," said Cristiano Amon, President and CEO of Qualcomm Incorporated. "We are well positioned to meet our long-term targets and enable the connected intelligent edge."

QCT Revenue Streams

(in millions, except percentages) Q2 Fiscal 2022 Q2 Fiscal 2021 Change
Handsets $6,325 $4,065 +56%
RF front-end 1,160 903 +28%
Automotive 339 240 +41%
IoT 1,724 1,073 +61%
Total QCT revenues $9,548 $6,281 +52%


Current Guidance
Q3 FY22 Estimates2
Revenues $10.5B - $11.3B
Supplemental Revenue Information
QCT revenues $9.1B - $9.6B
QTL revenues $1.4B - $1.6B
GAAP diluted EPS $2.35- $2.55
Less diluted EPS attributable to QSI $-
Less diluted EPS attributable to share-based compensation ($0.33)
Less diluted EPS attributable to other items3
Non-GAAP diluted EPS $2.75 - $2.95

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