December 1, 2022

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Qualcomm (QCOM) Q4 2022 earnings

Qualcomm (QCOM) Q4 2022 earnings

Cristiano Amon, President and CEO of Qualcomm, speaks during the Milken Institute Global Conference on May 2, 2022, in Beverly Hills, California.

Patrick T. Fallon | AFP | Getty Images

Qualcomm Shares fell 5% in extended trading on Wednesday after the financial chip maker announced on-line Fourth Quarter Earnings But it provided poor guidance in the first quarter.

Here’s how the company did:

  • gains: $3.13 a share, adjusted for, versus $3.13 a share, as expected by analysts, according to Refinitiv.
  • he won: $11.39 billion, adjusted, versus $11.37 billion as analysts had expected, according to Refinitiv.

Total revenue grew 22% year-over-year in the quarter ended September 25, according to a statement.

In terms of guidance, Qualcomm called for fiscal first-quarter adjusted earnings of $2.25 to $2.45 per share on $9.2 billion to $10 billion in revenue. Analysts polled by Refinitiv expected earnings per share of $3.42 and revenue of $12.02 billion.

“Given the uncertainty created by the macroeconomic environment, we are updating our 2022 guidance for 3G/4G/5G phone volumes from a medium single-digit annual decline, to a low double-digit decline,” Qualcomm said in the report.

“The rapid deterioration in demand and the easing of supply constraints across the semiconductor industry has led to rising channel stocks.”

Revenue in Qualcomm CDMA Technologies, or the QCT category, which includes smartphone chips, RF front-end components, automotive chips and IoT devices, was $9.9 billion. That was 28% higher, which is more than the $9.87 billion consensus of analysts polled by StreetAccount.

Within the QCT segment, revenue from mobile phones was $6.57 billion, up 40% and a hair below the StreetAccount consensus of $6.59 billion.

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Qualcomm Technology Licensing or QTL, Qualcomm’s other major unit that consists of licensing fees related to 5G and other technologies the company produces, generated $1.44 billion in revenue, which was 8% higher but less than the StreetAccount consensus of $1.58 billion.

During the quarter, Qualcomm He said It has extended its patent licensing agreement with Samsung until 2030. And Arm, which provides chip architectures used by Qualcomm, I filed a lawsuit against Qualcomm for breach of license agreements and trademark infringement.

Despite the after-hours movement, Qualcomm shares are down 37% so far this year, while the broader S&P 500 is down 20% over the same period.

Executives will discuss the results with analysts on a conference call beginning at 4:45 p.m. ET.

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Correction: Updated to reflect Qualcomm’s $6.57 billion in mobile revenue. An earlier version rounded out up to $6.6 billion.