Qualcomm revenue for the year increased, but net profit decreased

Qualcomm revenue last quarter amounted to 5.1 billion dollars.
Qualcomm, which ended December 29 in the first quarter of fiscal year 2020, published a report.

Qualcomm revenue for the quarter was $ 5.077 billion. The year before, it was equal to 4.842 billion dollars. Operating profit for the year increased from $ 710 million to $ 1.03 billion, but net profit decreased from $ 1.68 billion to $ 925 million. Note that research and development expenses increased from $ 1.269 billion to $ 1.406 billion.

During the quarter, the manufacturer returned to shareholders almost $ 1.5 billion. In the form of dividends, $ 710 million was paid, and $ 762 million was spent on the purchase of shares. The company’s assets at the end of the quarter were estimated at $ 33.111 billion, of which $ 11.109 billion accounted for cash and cash equivalents.

In the future, the manufacturer expects “stable and long-term sales growth” associated with the appearance on the market of smartphones with support for 5G networks.

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