QCOM Q1 2021 Earnings Report — QUALCOMM Incorporated Revenue & Financial Results | Market Cap Arena

QUALCOMM IncorporatedQCOM

Q1 2021 Earnings

Reported February 3, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$8.2B	$8.3B	$5.1B	-1.3%	62.2%
Op. Income	$2.5B	$3.5B	$1.0B	-26.8%	145.2%
Gross Margin	57.6%	66.9%	58.4%	-9.2pp	-0.7pp
Net Margin	29.8%	35.5%	18.2%	-5.7pp	11.6pp
EPS (Diluted)	$2.12	$2.58	$0.80	-17.8%	165.0%
Free Cash Flow	$2.7B	$1.4B	$822M	94.3%	229.2%

Revenue Flow

Item	Amount
REVENUE	$8.2B
Cost of Revenue	$3.5B
GROSS PROFIT	$4.7B
R&D Expenses	$1.7B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$567M
Other Expenses	$0
Operating Expenses	$2.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$2.5B
Interest Income	$21M
Interest Expense	$141M
Other Income/Expenses	$78M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$149M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.5B
D&A	$364M
EBIT	$2.5B
EBITDA	$2.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$8.2B
Cost of Revenue	$3.5B
GROSS PROFIT	$4.7B
R&D Expenses	$1.7B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$567M
Other Expenses	$0
Operating Expenses	$2.2B
Cost & Expenses	$5.7B
OPERATING INCOME	$2.5B
Interest Income	$21M
Interest Expense	$141M
Other Income/Expenses	$78M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$149M
Net Income from Continuing Ops	$2.5B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.5B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.5B
D&A	$364M
EBIT	$2.5B
EBITDA	$2.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.5B
Depreciation & Amortization	$364M
Stock-Based Compensation	$392M
Deferred Income Tax	$53M
Other Non-Cash Items	-$213M
Change in Working Capital	$124M
OPERATING CASH FLOW	$3.2B
Capital Expenditure	-$469M
Acquisitions (Net)	-$138M
Purchases of Investments	-$2.2B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	$41M
NET CASH FROM INVESTING	-$1.2B
Net Debt Issuance	$1M
Common Stock Repurchased	-$444M
Common Dividends Paid	-$739M
Other Financing Activities	-$463M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$2.7B
Net Change in Cash	$369M

Balance Sheet

Item	Amount
Cash & Equivalents	$7.1B
Short-Term Investments	$5.2B
Net Receivables	$4.1B
Inventory	$2.6B
Other Current Assets	$794M
TOTAL CURRENT ASSETS	$19.8B
PP&E (Net)	$4.0B
Goodwill	$6.4B
Intangible Assets	$1.5B
Long-Term Investments	$35M
Tax Assets	$1.3B
Other Non-Current Assets	$4.4B
TOTAL NON-CURRENT ASSETS	$17.7B
TOTAL ASSETS	$37.5B
Account Payables	$2.4B
Short-Term Debt	$500M
Deferred Revenue	$540M
Other Current Liabilities	$4.6B
TOTAL CURRENT LIABILITIES	$9.2B
Long-Term Debt	$15.2B
Deferred Revenue NC	$644M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$5.0B
TOTAL NON-CURRENT LIABILITIES	$20.9B
TOTAL LIABILITIES	$30.1B
Common Stock	$113M
Additional Paid-In Capital	$0
Retained Earnings	$7.0B
Treasury Stock	$0
Accum. Other Comp. Income	$293M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$7.4B
Minority Interest	$0
TOTAL EQUITY	$7.4B
TOTAL LIABILITIES & EQUITY	$37.5B
Total Debt	$15.7B
Net Debt	$8.7B