Qualcomm (QCOM) earnings Q4 2021

Cristiano Amon, president of Qualcomm and Qualcomm CDMA Systems, responds to a issue during a panel discussion on 5G wireless broadband technology through the 2018 CES in Las Vegas, Nevada, U.S. January 10, 2018.

Steve Marcus | Reuters

Qualcomm inventory rose far more than 6% at a single position in extended buying and selling Wednesday immediately after the firm reported its fiscal fourth-quarter earnings, which exceeded analyst anticipations.

Qualcomm’s profits also beat Wall Road expectations, driven by a 56% yr-above-calendar year strengthen in smartphone chip sales regardless of a world wide chip scarcity.

Here’s how Qualcomm did vs . Refinitiv consensus expectations:

  • EPS: $2.55, adjusted, vs. $2.26 expected, up 76% calendar year in excess of year
  • Profits: $9.3 billion, altered, vs. $8.86 billion expected, up 43% calendar year in excess of yr.

Qualcomm said it predicted involving $10 billion and $10.8 billion in revenue in the current quarter, better than the $9.68 billion anticipated by analysts.

QCT, Qualcomm’s chip enterprise, claimed $7.7 billion in income, up 56% year above 12 months. The enterprise attributed the development to sturdy demand for chips for smartphones and handsets.

The expansion in Qualcomm’s chip division will come amid troubles with the provide of several semiconductors needed to construct desktops and other products. It reveals Qualcomm has weathered the international lack — which has damage providers this kind of as Intel, AMD and Apple — and that its approach of using a number of chip factories, or foundries, has resulted in a more robust pipeline of chip provide.

Qualcomm’s IoT small business, which creates small-electricity chips to link other equipment to the net and is component of QCT, grew 66% to $1.5 billion. RF entrance-conclusion chips, which are essential to link to 5G networks, grew 45% to $1.24 billion.

The category with the 2nd-strongest progress in the quarter ending in December is the company’s handset small business, with $4.69 billion in gross sales. Qualcomm expects to offer chips for as many as 550 million 5G smartphones in 2022, a slight downward revision from its past prediction.

Qualcomm’s automotive small business remains the firm’s smallest product or service group for chips. It grew 44% to $270 million, though the corporation announced a number of partnerships with automakers this kind of as GM for the duration of the quarter.

QTL, the company’s financially rewarding technology licensing division, was up only 3% on an once-a-year basis, to $1.55 billion in product sales.

Qualcomm explained it repurchased $1.54 billion of its individual shares during the quarter and paid out $768 million in dividends.

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