Qualcomm Q4 2022 Earnings Report
Key Takeaways
Qualcomm reported strong Q4 and fiscal year 2022 results, with revenues of $11.40 billion and EPS of $2.54. The company's diversification strategy and long-term opportunities remain unchanged despite temporary impacts from elevated channel inventory.
QCT revenues increased by 28% year-over-year.
Handset revenues grew by 40% year-over-year.
Automotive revenues increased by 58% year-over-year.
The company returned $1.34 billion to stockholders through dividends and stock repurchases.
Qualcomm
Qualcomm
Forward Guidance
Qualcomm is updating its guidance for calendar year 2022 3G/4G/5G handset volumes from a year-over-year mid-single-digit percentage decline, to a low double-digit percentage decline. The rapid deterioration in demand and easing of supply constraints across the semiconductor industry have resulted in elevated channel inventory. Due to these elevated levels, our largest customers are now drawing down on their inventory, negatively impacting the mid-point of our EPS guidance for the first quarter of fiscal 2023 by approximately ($0.80).