TechWatch

Qualcomm Q4 2022 financial results

Softness in handset sales has caused Q4 revenue to decline by 11.6% and net income to drop 14.2% Y-Y.

Andy Patrizio

For Q4 2022, Qualcomm reported revenue of $9.46 billion compared to $10.7 billion in the same quarter of 2021, representing an 11.6% decline in revenue. Handsets, the company’s largest unit, is blamed for the revenue shortfall. Qualcomm reported a significant miss for the final quarter of 2022 due to weaker-than-expected handset demand and inventory drawdown, and said inventory clearance would continue in the first half of 2023, echoing the recent announcements of fellow chipmakers Intel and AMD. “In a challenging environment, we delivered results consistent with guidance, including year-over-year growth in QCT Automotive and IoT,” said Cristiano Amon, president and
...

Enjoy full access with a TechWatch subscription!

TechWatch is the front line of JPR information gathering service, comprising current stories of interest to the graphics industry spanning the core areas of graphics hardware and software, workstations, gaming, and design.

A subscription to TechWatch includes 4 hours of consulting time to be used over the course of the subscription.

Already a subscriber? Login below

This content is restricted

Subscribe to TechWatch