The Qualcomm FY2022 First Quarter Results They have shown better figures than expected. In this period the company obtained some revenue of 10.7 billion dollars, 30% more than those obtained in the same period of 2021, compared to the expected 10,420. In addition, its shares rose $3.23, an amount that represents a year-over-year increase of 49%. Qualcomm has also announced that for the current quarter it expects to have revenues of between 10,200 and 11,000 million dollars.
The chip division of Qualcomm, QCT, achieved sales of 8,850 million dollars, a 35% more than during the same period in 2021. However, their growth was lower than that registered in the first quarter of their fiscal year 2021, when they grew by 63%. Despite this, the figures recorded by Qualcomm in this regard during the quarter show that the demand for advanced chips remains high.
All the categories in which Qualcomm’s chip area is divided, four, improved their figures during the quarter. That yes, the increase in its income was driven above all thanks to the 42% increase in sales in chips for portable devices, for which the company entered 5,980 million dollars. The company bought back $1.2 billion worth of shares in the quarter, and issued a dividend of $765 million.
Additionally, Qualcomm’s Snapdragon chips posted 60% annual sales growth. Car chip sales also rose 21% to $256 million. As for its Internet of Things division, which focuses on low-power chips, sales improved by 41% to $1.48 billion.
RF frontend, the area of the company that focuses on chips for wireless connectivity, also rose in sales: 7% to 1.13 billion. In total, this division grew 76% in Qualcomm’s full 2021 fiscal year. Meanwhile, Qualcomm’s technology licensing division, QTL, improved revenue 10% to $1.81 billion.
Cristiano Amon, CEO and President of Qualcommhas highlighted that the quarterly results of the company «reflect strong demand for products and technologies, with QCT’s revenues outpacing all semiconductor companies that do not have factories for their chips«. Amon has also noted that the company is “at the beginning of one of the greatest opportunities” in its history, “with the market that we are targeting being able to grow more than seven times to around 700,000 million dollars in the next decade. Our technology road time positions us as the partner of choice for both mobile and connected smart edge«.