Qualcomm Beats - Guides Up

February 3, 2022

Qualcomm reported results for its fiscal first quarter ended December 26, 2021. The firm had EPS of $3.23, adjusted with $3.01 expected. On the top line, they took in $10.7 billion, adjusted with $10.42 billion expected.

Qualcomm sees between $10.2 billion and $11 billion in Q2 sales, which is more than the estimates of $9.6 billion.

“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.1 “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.”