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Dec 27, 2020
Qualcomm Q1 2021 Earnings Report
Qualcomm reported strong Q1 2021 results, driven by 5G demand and growth in various sectors, leading to record earnings in the chip business.
Key Takeaways
Qualcomm announced exceptional first quarter fiscal 2021 results, with revenues of $8.2 billion and EPS of $2.12. The company's performance was driven by strong 5G demand in handsets and growth in RF front-end, automotive, and IoT adjacencies, resulting in record earnings in the chip business.
Revenues reached $8.2 billion, a 62% increase year-over-year.
Diluted earnings per share (EPS) increased by 165% to $2.12.
QCT revenues grew by 81% year-over-year, reaching $6.53 billion.
The company returned $1.2 billion to stockholders through dividends and share repurchases.
Revenue by Segment
Forward Guidance
Qualcomm provided revenue guidance for Q2 FY21, with estimated revenues between $7.2B and $8.0B.
Positive Outlook
- QCT revenues are expected to be between $6.0B and $6.5B.
- QTL revenues are projected to be between $1.25B and $1.45B.
- GAAP diluted EPS is estimated to be $1.17 - $1.37.
- Non-GAAP diluted EPS is expected to be $1.55 - $1.75.
- The outlook includes the impact of any pending business combinations expected to close in the upcoming quarter.
Challenges Ahead
- The outlook does not include provisions for future asset impairments or pending legal matters, other than probable and estimable future legal amounts.
- Certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast.
- The guidance for diluted EPS attributable to other items for the second quarter of fiscal 2021 is primarily attributable to acquisition-related items and an estimated tax expense unrelated to the fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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