Qualcomm reported quarterly revenue of $8.3 billion, up 73% year-over-year, above the high end of prior guidance issued by the company. Non-GAAP revenues were $6.5 billion, up 35% year-over-year. Non-GAAP diluted EPS was $1.45, an increase of 86% year-over-year, above the high end of our prior guidance range.
“Our fiscal fourth quarter results demonstrate that our investments in 5G are coming to fruition and showing benefits in our licensing and product businesses,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We concluded the year with exceptional fourth quarter results and are well positioned for growth in 2021 and beyond. As the pace of disruption in wireless technology accelerates, we will continue to drive growth and scale across our RF front-end, Automotive and IoT adjacencies.”
Some highlights:
- MSM chip shipments: 162 million, an increase of 7% year-over-year, above the midpoint of the prior guidance range.
- QCT revenues: $5.0 billion, an increase of 38% year-over-year, above the high end of the prior guidance range
- QTL revenues: $1.5 billion, an increase of 30% year-over-year, above the high end of the prior guidance range.
Regarding the 5G environment, Qualcomm notes:
- Over 400 operators investing in 5G and more than 110+ operators in almost 50 countries / territories have launched commercial 5G services- across both sub-6 and millimeter wave spectrum
- 35+ operators offer 5G fixed wireless access or home broadband services
- 148 5G phones commercially available (+56% vs June 2020) – 200 announced (+48% vs June 2020)
- 222 5G devices commercially available (+64% vs June 2020) – 444 announced (+40% vs June 2020)
- Release 16 completed, which expands 5G to new spectrum and services, working on Releases 17 and 18
