Qualcomm reported revenue of $5.5 billion for its fiscal fourth quarter, down 18% from the same period last year. Net income was $1.1B, down 44% from a year earlier.
MSM shipments for quarter were 203 million, down 14% from 236 million in Q4 2014.
“Our fiscal fourth quarter revenues and EPS were at the high end of our expectations, with stronger-than expected MSM chipset shipments offsetting slower than expected progress concluding new license agreements in China. We executed a major increase in our capital return program in fiscal 2015, returning a record $14 billion of capital to stockholders,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We are encouraged by customer reaction to our flagship Snapdragon 820, are on track to deliver on our fiscal 2016 cost reduction targets and expect to exit fiscal 2016 on an improving financial trajectory.”
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