Summary: April 28 news, mobile phone chip manufacturer Qualcomm announced the second fiscal quarter of fiscal year 2022 (ending March 27, 2022) after hours on wednesday (April 27): Non-GAAP revenue increased by 41% year-on-year to a record $11.158 billion, net profit increased 67% year-on-year to $2.934 billion, non-GAAP diluted earnings per share increased by 69% year-on-year At $3.21, it significantly exceeded analysts' expectations.
April 28 news, mobile phone chip giant Qualcomm on wednesday (April 27) after hours of the U.S. stock market announced the fiscal second quarter of 2022 (ended March 27, 2022): Non-GAAP revenue increased 41% year-on-year, reached a record $11.158 billion, net profit increased 67% year-on-year to $2.934 billion, Non-GAAP diluted earnings per share increased by 69% year-on-year At $3.21, it significantly exceeded analysts' expectations.
According to Refinitiv's survey, analysts expect Qualcomm's fiscal second-quarter revenue and Non-GAAP diluted earnings per share to be $10.60 billion and $2.91, respectively.
Looking ahead to the second quarter (fiscal third quarter), Qualcomm expects revenue to be between $10.5 billion and $11.3 billion (median of $10.9 billion) and Non-GAAP diluted earnings per share of $2.75-2.95 (midpoint $2.85).
The market consensus value summarized by Refinitiv shows that analysts expect Qualcomm's third-quarter revenue to be $9.98 billion.
Performance by business in the fiscal second quarter:
Qualcomm QTL (Qualcomm Technology Licensing) fiscal second-quarter revenue fell 2% year-over-year to $1.58 billion, and pretax margin fell 1 percentage point year-over-year to 73%, while fiscal third-quarter revenue is expected to be between $1.4 billion and $1.6 billion (median value of $1.5 billion).
Qualcomm's QCT (Qualcomm CDMA Technologies) business, which includes Snapdragon mobile chips, saw second-quarter revenue rise 52% annually to $9.548 billion, pretax margins increased 10 percentage points year-over-year to 35%, and fiscal third-quarter revenue is expected to be between $9.1 billion and $9.6 billion (median of $9.35 billion).
Qualcomm noted that QCT's fiscal second quarter profit before tax (EBT) rose 111% annually to $3.34 billion, marking the sixth consecutive quarter of year-over-year growth of more than 100%.
Detailed data from Qualcomm's QCT division shows that mobile phone chip revenue increased 56% year-on-year to $6.325 billion in the second fiscal quarter, RF front-end chip revenue increased 28% year-on-year to $1.160 billion, automotive chip revenue increased 41% year-on-year to $339 million, and Internet of Things (IoT) chip revenue increased 61% year-on-year to $1.724 billion.
According to StreetAccount statistics, analysts expect Qualcomm's QCT and QTL business revenue in the second quarter to be $8.86 billion and $1.55 billion, respectively.
Qualcomm pointed out that its main customers of Android mobile phone chips include Samsung, Xiaomi, OPPO, vivo and Honor.
Although China's epidemic lockdown, the Russian-Ukrainian war and rising inflation rate have hit the mobile phone market, Qualcomm CEO Cristiano Amon said in an interview that high-end smartphones have not been affected by the slowdown in demand like low-end mobile phones.
Editor: Xin ZhiXun - Lin Zi