Qualcomm reports Q4 revenue at $8.3B, up 73% YoY

Wednesday, 04. November 2020 22:04

Qualcomm Inc.'s revenue in the fourth fiscal quarter of 2020 surged to $8.34 billion, marking a 73% increase compared to the same period last year, the company announced on Wednesday. Net income jumped 485% versus Q4 2019 to stand at $2.96 billion, or $2.58 per diluted share. For the full year, the revenue fell 3% year-on-year to $23.53 billion, while net income rose by 19% to $5.20 billion. Diluted earnings per share were at $4.52, up 26% per annum.

"Our fiscal fourth quarter results demonstrate that our investments in 5G are coming to fruition and showing benefits in our licensing and product businesses. 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," CEO Steve Mollenkopf said in the press release.

In the first fiscal quarter of 2021, the chip manufacturer expects revenues at between $7.8 billion and $8.6 billion, and EPS is seen coming in at a range of $1.95 and $2.15.

Following the release, Qualcomm's shares jumped 5.42% in the after hours trading.

Related Links: Qualcomm Inc.
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Breaking the News / MD