Qualcomm announced its earnings for its fiscal fourth-quarter and fiscal year 2022 results. The company’s revenue was $44.2 billion in fiscal 2022 and net income was $13 billion.
The company reported revenue of $11.4 billion for the fourth quarter with net income of $2.9 billion for the quarter, which is lower than expected.
said Cristiano Amon, President and CEO of Qualcomm Incorporated. “While our financial outlook is temporarily affected by elevated channel inventory, our strategy for diversification and long-term opportunities remain unchanged.”
The following statements are forward-looking, and actual results may differ materially. The “note regarding forward-looking statements” in this press release provides a description of some of the risks we face, and our most recent annual report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.
Due to uncertainty arising from the macroeconomic environment, we are updating our 2022 guidance for 3G/4G/5G phone volumes from average single digit percentage decline year over year, to low double digit percentage decline.
You can find out more details about Qualcomm Q4 and the full 2022 financial results on their website at the link below.
Filed Under: Technology News
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