Name: Qualcomm Inc. (NASDAQ:QCOM) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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Qualcomm Inc., income statement, revenues

US$ in millions

12 months ended:	Sep 27, 2026	Sep 28, 2025	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021
Handsets	24,072)	27,793)	24,863)	22,570)	25,027)	16,830)
RFFE	—)	—)	—)	—)	4,330)	4,158)
Automotive	6,004)	3,957)	2,910)	1,872)	1,372)	975)
IoT, internet of things	7,132)	6,617)	5,423)	5,940)	6,948)	5,056)
Qualcomm CDMA Technologies (QCT)	37,208)	38,367)	33,196)	30,382)	37,677)	27,019)
Qualcomm Technology Licensing (QTL)	5,556)	5,582)	5,572)	5,306)	6,358)	6,320)
Qualcomm Strategic Initiatives (QSI)	—)	—)	18)	28)	31)	45)
Nonreportable segments	476)	192)	176)	144)	134)	128)
Unallocated revenues	(120)	143)	—)	(40)	—)	54)
Reconciling items	356)	335)	176)	104)	134)	182)
Revenues	43,120)	44,284)	38,962)	35,820)	44,200)	33,566)

Based on: 10-K (reporting date: 2026-09-27), 10-K (reporting date: 2025-09-28), 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26).

Total revenues exhibit a cyclical trajectory, characterized by a significant peak in 2022 at US$ 44,200 million, followed by a contraction in 2023. A subsequent recovery period is observed through 2025, where revenues reach US$ 44,284 million, before experiencing a slight decline to US$ 43,120 million in 2026.

Qualcomm CDMA Technologies (QCT) Analysis: The QCT segment serves as the primary driver of total revenue, mirroring the overall corporate volatility. Revenues peaked in 2022 at US$ 37,677 million and reached a second peak in 2025 at US$ 38,367 million.; Handset revenues remain the largest individual contributor but show considerable fluctuation, peaking at US$ 27,793 million in 2025 before dropping to US$ 24,072 million in 2026.; Automotive revenues demonstrate the most consistent and aggressive growth pattern in the portfolio. This stream expanded from US$ 975 million in 2021 to US$ 6,004 million by 2026, representing a substantial diversification of the revenue base.; IoT revenues exhibit an inconsistent trend, with a peak in 2022 (US$ 6,948 million), a dip through 2024, and a recovery reaching US$ 7,132 million by 2026.
Qualcomm Technology Licensing (QTL) Analysis: The licensing segment displays relative stability compared to the chip-based revenues. After a peak of US$ 6,358 million in 2022, revenues contracted in 2023 and have remained largely stagnant, fluctuating between US$ 5,306 million and US$ 5,582 million through 2026.
Other Revenue Components: Qualcomm Strategic Initiatives (QSI) show a steady decline, decreasing from US$ 45 million in 2021 to US$ 18 million in 2024, with no reported data for the final two years.; Nonreportable segments have shown a steady upward trend, growing from US$ 128 million in 2021 to US$ 476 million in 2026.; Reconciling items and unallocated revenues remain immaterial relative to total turnover, though reconciling items increased from US$ 182 million in 2021 to US$ 356 million in 2026.

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