The company s profitable Qualcomm Technology Licensing segment, which includes mobile handset patent royalties, contributed $1.61 billion in revenue, which was up 51% and above the $1.35 billion consensus among analysts surveyed by FactSet.
Qualcomm derives much of its revenue from handset chips, and the deployment of 5G networks creates a growth opportunity for the company, particularly as the economy reopens and people begin to travel more.
Handset revenue, at $4.07 billion, grew 53%, although analysts polled by FactSet had expected $4.23 billion. The larger Qualcomm CDMA Technologies Segment, which includes handsets as well as radio frequency front end, internet of things and automotive components, came up with $6.28 billion in revenue, surpassing the $6.26 billion FactSet consensus. The company raised its guidance for 3G, 4G and 5G handset shipments in 2021.
Provided by Dow Jones By Maria Armental Qualcomm Inc. benefitted from high demand for 5G smart phones, which boosted quarterly sales by 52%, as the mobile-phone chip company moved to assure its access to semiconductors in the face of global supply chain disruptions. Shares rose 5% to $144.03 in after-hours trading. Cristiano Amon, the company s president who is slated to take over as chief executive following Steve Mollenkopf s planned retirement, said that while demand continues to outstrip supply across businesses, company officials expect material improvement in supply by the end of 2021. Qualcomm, Mr. Amon said, has also picked up business from China s Huawei Technologies Co., which is subject to U.S. trade restrictions.
Qualcomm Tops Earnings Estimates, Expects Strong June Quarter
Qualcomm topped earnings and revenue estimates in CEO Steve Mollenkopf s last quarterly report with the company.
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Shares of Qualcomm Inc. (
QCOM) - Get Report rose Wednesday after the company reported fiscal second-quarter results that topped analyst estimates.
The San Diego chipmaker reported earnings of $1.90 per share on revenue of $7.93 billion, a 52% year-over-year increase. Analysts were expecting earnings of $1.67 per share on revenue of $7.62 billion, according to FactSet. Demonstrating the strength of our strategy and our success in execution, we delivered another quarter of year-over-year growth driven by sustained demand for smartphones globally and our ability to increase the scale of our non-handset revenues,” said CEO Steve Mollenkopf.
Qualcomm Revenue Pops 52% on Strong Smartphone Demand nbcconnecticut.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbcconnecticut.com Daily Mail and Mail on Sunday newspapers.
Qualcomm CEO-elect Cristiano Amon will take the reins of the world s largest maker of smartphone chips in June as the San Diego company finally puts five years of legal and regulatory strife behind it.
The promotion of the energetic Brazilian, who rose through the ranks of the company s chip division, is not a surprise. He s been Qualcomm s president since 2018, serving as second in command to current CEO Steve Mollenkopf, who announced his pending retirement early this year.
An engineer with deep technical and market expertise, Amon, 50, has played a key role for years in molding the company s semiconductor product strategy.