Qualcomm Announces First Quarter Fiscal 2021 Results

Qualcomm Announces First Quarter Fiscal 2021 Results GAAP: Revenues $8.2 billion; EPS $2.12

Non-GAAP: Revenues $8.2 billion; EPS $2.17

—Record Quarterly QCT Revenues and Earnings—

SAN DIEGO - February 3, 2021 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal first quarter ended December 27, 2020.

“We delivered an exceptional quarter, more than doubling earnings year-over-year due to strong 5G demand in handsets and growth in our RF front-end, automotive and IoT adjacencies, which drove record earnings in our chip business,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We remain well positioned as the 5G ramp continues and we extend our core technology roadmap to adjacent industries.”

First Quarter Results 1

GAAP Non-GAAP

(in millions, except per share data

Q1 Fiscal

Q1 Fiscal Q1 Fiscal Q1 Fiscal

and percentages)

2021

2020

Change

2021

2020

Change

Revenues

$8,235

$5,077

+62%

$8,226

$5,057

+63%

Earnings before taxes (EBT)

$2,604

$947

+175%

$2,912

$1,334

+118%

Net income

$2,455

$925

+165%

$2,510

$1,151

+118%

Diluted earnings per share (EPS)

$2.12

$0.80

+165%

$2.17

$0.99

+119%

(1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release.

 

Segment Results

QCT QTL

Q1 Fiscal

Q1 Fiscal Q1 Fiscal Q1 Fiscal

(in millions, except percentages)

2021

2020

Change

2021

2020

Change

Revenues

$6,533

$3,618

+81%

$1,660

$1,404

+18%

EBT

$1,919

$479

N/M

$1,270

$1,017

+25%

EBT as % of revenues

29%

13%

+16 points

77%

72%

+5 points

N/M: Not meaningful

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