Qualcomm revenue for the year grew 62%, net income – 165%

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Qualcomm’s revenue for the reporting period was $ 8.235 billion. This is 62% more than in the first quarter of fiscal year 2020, equal to $ 5.077 billion. Profit before taxes for the year increased from $ 947 million to $ 2.604 billion, that is, by 175%. Net profit for the same period increased from $ 925 million to $ 2.455 billion, or 165%.

Strong demand for smartphones with 5G support, as well as success in the IoT and automotive electronics segments, contributed to the strong results in the past quarter, according to company management.

The company paid out $ 1.2 billion to shareholders during the quarter. At the same time, $ 739 million was paid in the form of dividends, and $ 444 million in the form of share buybacks. The company’s assets at the end of the quarter were estimated at $ 33.111 billion, of which cash and cash equivalents accounted for $ 11.109 billion.

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