QCOM Q3 2019 Earnings Report — QUALCOMM Incorporated Revenue & Financial Results | Market Cap Arena

QUALCOMM IncorporatedQCOM

Q3 2019 Earnings

Reported July 31, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$9.6B	$5.0B	$5.6B	93.4%	72.1%
Op. Income	$5.3B	$940M	$903M	465.6%	488.8%
Gross Margin	78.1%	56.3%	55.5%	21.8pp	22.5pp
Net Margin	22.3%	13.3%	21.8%	9.0pp	0.5pp
EPS (Diluted)	$1.75	$0.55	$0.81	218.2%	116.0%
Free Cash Flow	$4.7B	$624M	$1.8B	647.0%	153.5%

Revenue Flow

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$2.1B
GROSS PROFIT	$7.5B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$547M
Other Expenses	$277M
Operating Expenses	$2.2B
Cost & Expenses	$4.3B
OPERATING INCOME	$5.3B
Interest Income	$80M
Interest Expense	$160M
Other Income/Expenses	$184M
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$3.4B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$353M
EBIT	$5.6B
EBITDA	$5.9B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$9.6B
Cost of Revenue	$2.1B
GROSS PROFIT	$7.5B
R&D Expenses	$1.4B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$547M
Other Expenses	$277M
Operating Expenses	$2.2B
Cost & Expenses	$4.3B
OPERATING INCOME	$5.3B
Interest Income	$80M
Interest Expense	$160M
Other Income/Expenses	$184M
INCOME BEFORE TAX	$5.5B
Income Tax Expense	$3.4B
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$353M
EBIT	$5.6B
EBITDA	$5.9B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$353M
Stock-Based Compensation	$246M
Deferred Income Tax	$3.2B
Other Non-Cash Items	-$306M
Change in Working Capital	-$697M
OPERATING CASH FLOW	$4.9B
Capital Expenditure	-$248M
Acquisitions (Net)	-$67M
Purchases of Investments	$248M
Sales/Maturities of Investments	$38M
Other Investing Activities	-$179M
NET CASH FROM INVESTING	-$208M
Net Debt Issuance	$1M
Common Stock Repurchased	-$69M
Common Dividends Paid	-$755M
Other Financing Activities	-$179M
NET CASH FROM FINANCING	-$915M
FREE CASH FLOW	$4.7B
Net Change in Cash	$3.8B

Balance Sheet

Item	Amount
Cash & Equivalents	$13.9B
Short-Term Investments	$435M
Net Receivables	$2.4B
Inventory	$1.8B
Other Current Assets	$682M
TOTAL CURRENT ASSETS	$19.2B
PP&E (Net)	$3.0B
Goodwill	$6.3B
Intangible Assets	$2.4B
Long-Term Investments	$0
Tax Assets	$1.2B
Other Non-Current Assets	$2.1B
TOTAL NON-CURRENT ASSETS	$14.9B
TOTAL ASSETS	$34.1B
Account Payables	$1.6B
Short-Term Debt	$3.0B
Deferred Revenue	$527M
Other Current Liabilities	$4.1B
TOTAL CURRENT LIABILITIES	$10.9B
Long-Term Debt	$13.4B
Deferred Revenue NC	$1.3B
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$3.1B
TOTAL NON-CURRENT LIABILITIES	$17.8B
TOTAL LIABILITIES	$28.7B
Common Stock	$581M
Additional Paid-In Capital	$0
Retained Earnings	$4.7B
Treasury Stock	$0
Accum. Other Comp. Income	$195M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.5B
Minority Interest	$0
TOTAL EQUITY	$5.5B
TOTAL LIABILITIES & EQUITY	$34.1B
Total Debt	$16.4B
Net Debt	$2.5B