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

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