Qualcomm reported a 41 per cent increase in its fiscal Q2 2022 revenue, with sales of handset chips contributing to the company’s navigation of ongoing supply chain problems.
President and CEO Cristiano Amon cited Qualcomm’s diversification strategy and strong demand for its wireless processor technologies as revenue drivers during the period, which ran to 27 March.
During an earnings call, the Qualcomm executive hailed “another quarter of record” revenue, with the overall figure up 41 per cent year-on-year to $11.2 billion.
Sales of chips for mobile devices grew 56 per cent to $6.3 billion.
Counterpoint Research placed Qualcomm as the market leader in chipsets for flagship smartphones running the Android OS.
Radio Frequency Front End (RFFE) revenue grew 28 per cent to $1.2 billion.
Revenue at Qualcomm’s IoT business, which covers low-power and -cost chips, increased 61 per cent to $1.7 billion.
Qualcomm reported QCT segment chip sales segment of $9.6 billion, up 52 per cent.
The vendor’s QTL technology licensing segment recorded a decline in revenue of 2 per cent to $1.6 billion.
Net income grew 67 per cent to $2.9 billion.Subscribe to our daily newsletter Back