Qualcomm reported record fiscal first quarter revenues of $10.7 billion and record non-GAAP earnings per share of $3.23.
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Qualcomm’s chipset business had its second consecutive quarter of record performance with revenues of $8.8 billion, EBT of $3.1 billion and EBT margin of 35%.
- Handset revenues of $6 billion increased 42% year-over-year due to greater than 60% growth in revenues from Snapdragon chipsets for Android devices.
- Wi-Fi 6 and Wi-Fi 6E solutions now make up more than 80% of the company’s WiFi access point revenues.
Qualcomm also cited strong momentum in IoT, with revenue growth of 41% year-over-year to $1.5 billion in the first quarter across consumer, edge networking and industrial. Each of the consumer, edge networking and industrial categories grew by at least 30% compared to the year ago quarter.
“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.”
