QCOM FY 2010 Earnings Report — QUALCOMM Incorporated Revenue & Financial Results | Market Cap Arena

QUALCOMM IncorporatedQCOM

FY 2010 Earnings

Reported November 3, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$11.0B	—	$10.4B	—	5.5%
Op. Income	$3.3B	—	$2.2B	—	47.5%
Gross Margin	68.0%	—	69.5%	—	-1.5pp
Net Margin	29.5%	—	15.3%	—	14.3pp
EPS (Diluted)	$1.96	—	$0.95	—	106.3%
Free Cash Flow	$3.6B	—	$6.4B	—	-43.1%

Revenue Flow

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$3.5B
GROSS PROFIT	$7.5B
R&D Expenses	$2.5B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$0
Operating Expenses	$4.2B
Cost & Expenses	$7.7B
OPERATING INCOME	$3.3B
Interest Income	$530M
Interest Expense	$58M
Other Income/Expenses	$751M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$787M
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	-$273M
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$666M
EBIT	$4.5B
EBITDA	$4.8B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$11.0B
Cost of Revenue	$3.5B
GROSS PROFIT	$7.5B
R&D Expenses	$2.5B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.6B
Other Expenses	$0
Operating Expenses	$4.2B
Cost & Expenses	$7.7B
OPERATING INCOME	$3.3B
Interest Income	$530M
Interest Expense	$58M
Other Income/Expenses	$751M
INCOME BEFORE TAX	$4.0B
Income Tax Expense	$787M
Net Income from Continuing Ops	$3.5B
Net Income from Discontinued Ops	$0
Other Adjustments	-$273M
NET INCOME	$3.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.2B
D&A	$666M
EBIT	$4.5B
EBITDA	$4.8B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$3.2B
Depreciation & Amortization	$666M
Stock-Based Compensation	$612M
Deferred Income Tax	$116M
Other Non-Cash Items	-$519M
Change in Working Capital	-$46M
OPERATING CASH FLOW	$4.1B
Capital Expenditure	-$426M
Acquisitions (Net)	-$94M
Purchases of Investments	-$9.8B
Sales/Maturities of Investments	$10.5B
Other Investing Activities	-$970M
NET CASH FROM INVESTING	-$839M
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$3.0B
Common Dividends Paid	-$1.2B
Other Financing Activities	$35M
NET CASH FROM FINANCING	-$2.4B
FREE CASH FLOW	$3.6B
Net Change in Cash	$830M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.5B
Short-Term Investments	$6.7B
Net Receivables	$730M
Inventory	$528M
Other Current Assets	$596M
TOTAL CURRENT ASSETS	$12.1B
PP&E (Net)	$2.4B
Goodwill	$1.5B
Intangible Assets	$3.0B
Long-Term Investments	$8.1B
Tax Assets	$1.9B
Other Non-Current Assets	$1.5B
TOTAL NON-CURRENT ASSETS	$18.4B
TOTAL ASSETS	$30.6B
Account Payables	$764M
Short-Term Debt	$1.1B
Deferred Revenue	$623M
Other Current Liabilities	$835M
TOTAL CURRENT LIABILITIES	$5.5B
Long-Term Debt	$0
Deferred Revenue NC	$3.5B
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$761M
TOTAL NON-CURRENT LIABILITIES	$4.2B
TOTAL LIABILITIES	$9.7B
Common Stock	$0
Additional Paid-In Capital	$6.9B
Retained Earnings	$13.3B
Treasury Stock	$0
Accum. Other Comp. Income	$697M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$20.9B
Minority Interest	$0
TOTAL EQUITY	$20.9B
TOTAL LIABILITIES & EQUITY	$30.6B
Total Debt	$1.1B
Net Debt	-$2.5B