Qualcomm Announces First Quarter Fiscal 2021 Results

QCT Revenue Streams

We disaggregate QCT revenues based on industry segment or application in which our products are sold (as presented below).

 

(in millions, except percentages)

Q1 Fiscal 2021

Q1 Fiscal 2020

Change

Handsets

$4,216

$2,352

+79%

RF front-end

1,061

413

+157%

Automotive

212

147

+44%

IoT

1,044

706

+48%

Total QCT revenues

$6,533

$3,618

+81%

 

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Return of Capital to Stockholders

During the first quarter of fiscal 2021, we returned $1.2 billion to stockholders, including $739 million, or

$0.65 per share, of cash dividends paid and $444 million through repurchases of 3 million shares of common stock.

Business Outlook

The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent quarterly report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.

The following table summarizes GAAP and Non-GAAP guidance based on the current outlook.

 

Current Guidance Q2 FY21 Estimates1

Revenues

$7.2B - $8.0B

Supplemental Revenue Information

 

QCT revenues

$6.0B - $6.5B

QTL revenues

$1.25B - $1.45B

GAAP diluted EPS

$1.17 - $1.37

Less diluted EPS attributable to QSI

$—

Less diluted EPS attributable to share-based compensation

($0.30)

Less diluted EPS attributable to other items2

($0.08)

Non-GAAP diluted EPS

$1.55 - $1.75

  1. Our outlook does not include provisions for future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our financial outlook to the extent they are reasonably certain. Our outlook includes the impact of any pending business combinations to the extent they are expected to close in the upcoming quarter. Actual results may differ materially from the outlook.

  2. Our 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 that is unrelated to the fiscal year in which it is expected to be recorded.

Conference Call

Qualcomm’s first quarter fiscal 2021 earnings conference call will be broadcast live on February 3, 2021, beginning at 1:45 p.m. Pacific Time (PT) at http://investor.qualcomm.com/events.cfm . This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and information reconciling these Non-GAAP financial measures to our financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed on the conference call, will be posted at http://investor.qualcomm.com/ immediately prior to the commencement of the call. An audio replay will be available at http://investor.qualcomm.com/events.cfm and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13714808.

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