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Qualcomm posts impressive quarterly results, boosted by Apple 5G chip orders

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Yordan 05 November 2020

Sony Android Rumors

Qualcomm has been investing heavily into 5G chips and it's now reaping the benefits. The San Diego chip company posted its fiscal results for the three months ending on Sept 27 and its full fiscal year, revealing an increase in profit and sales both on a quarterly and yearly basis.

The company didn't name specific reasons, but Reuters revealed Apple’s 5G phones were the key driver behind Qualcomm's success.

(all numbers in million
except %)
Fiscal Q4
2020
Fiscal Q4
2019
Change Fiscal year
2020
Fiscal year
2019
Change
Revenue $6,502 $4,804 +35% $21,654 $19,398 +12%
Income $1,669 $947 +76% $4,816 $4,323 +11%

Revenue of the company’s chip segment was $4.97 billion, surpassing the estimates of $4.59 billion. Qualcomm Chief Executive Steve Mollenkopf revealed the contribution from new clients was small - most of the income came from already established partnerships.

Qualcomm said it shipped 162 million chips capable of wireless data connections during the fiscal quarter.

Apple iPhone 12 and Apple iPhone 12 Pro with chipsets, manufactured by Qualcomm Apple iPhone 12 and Apple iPhone 12 Pro with chipsets, manufactured by Qualcomm

Analysts expect further boost in the next quarters - $5.71 billion predicts FactSet, while the company is setting an even higher bar - around $6.2 - $6.8 billion. Overall shipments of 5G devices in 2020 are expected to be around 175 million to 225 million, with expectations in 2021 the number to go up to 500 million.

Mollenkopf also shared that Qualcomm has applied for licenses to deliver chips to Huawei, but the United States government hasn’t responded yet.

Source | Via

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Reader comments

6
  • 6ix
  • r3H
  • 06 Nov 2020

Nah, it was all apple bro, 875 is gonna be more expensive, if the profits from 865 were enough they won’t increase the price of 875

  • Reply
6
  • 6ix
  • r3H
  • 06 Nov 2020

With Apple everyone is a winner

  • Reply
A
  • Adul Al Salami Kebab
  • nrX
  • 06 Nov 2020

They just sued their way to this contract but oh well... :P

  • Reply
  • Read all comments
  • Post your comment
Total reader comments: 12

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