Stock Analysis on Net
Stock Analysis on Net
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Qualcomm Inc. (NASDAQ:QCOM)

Income Statement

Beginner level

Qualcomm Inc., consolidated income statement

US$ in millions

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12 months ended: Sep 29, 2019 Sep 30, 2018 Sep 24, 2017 Sep 25, 2016 Sep 27, 2015 Sep 28, 2014
Equipment and services 14,611  17,400  16,647  15,467  17,079  18,625 
Licensing 9,662  5,332  5,644  8,087  8,202  7,862 
Revenues 24,273  22,732  22,291  23,554  25,281  26,487 
Cost of revenues (8,599) (10,244) (9,792) (9,749) (10,378) (10,686)
Gross profit 15,674  12,488  12,499  13,805  14,903  15,801 
Research and development (5,398) (5,625) (5,485) (5,151) (5,490) (5,477)
Selling, general and administrative (2,195) (2,986) (2,658) (2,385) (2,344) (2,290)
Other (414) (3,135) (1,742) 226  (1,293) (484)
Operating income 7,667  742  2,614  6,495  5,776  7,550 
Interest expense (627) (768) (494) (297) (104) (5)
Interest and dividend income 316  625  619  611  527  586 
Net gains on marketable securities 288  41  456  239  451  770 
Net gains on other investments 68  83  74  49  49  56 
Impairment losses on marketable securities and other investments (135) (75) (177) (172) (200) (180)
Net gains (losses) on derivative instruments (14) (27) 32  (8) 17 
Equity in net losses of investees (93) (145) (74) (84) (32) (10)
Net gains (losses) on foreign currency transactions 11  37  (30) —  —  — 
Net gains on deconsolidation of subsidiaries —  —  —  — 
Investment and other income, net 441  539  900  635  815  1,233 
Income from continuing operations before income taxes 7,481  513  3,020  6,833  6,487  8,778 
Income tax expense (3,095) (5,377) (555) (1,131) (1,219) (1,244)
Income (loss) from continuing operations 4,386  (4,864) 2,465  5,702  5,268  7,534 
Discontinued operations, net of income taxes —  —  —  —  —  430 
Net income (loss) 4,386  (4,864) 2,465  5,702  5,268  7,964 
Net loss attributable to noncontrolling interests —  — 
Net income (loss) attributable to Qualcomm 4,386  (4,864) 2,466  5,705  5,271  7,967 

Based on: 10-K (filing date: 2019-11-06), 10-K (filing date: 2018-11-07), 10-K (filing date: 2017-11-01), 10-K (filing date: 2016-11-02), 10-K (filing date: 2015-11-04), 10-K (filing date: 2014-11-05).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Qualcomm Inc.’s revenues increased from 2017 to 2018 and from 2018 to 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Qualcomm Inc.’s operating income decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Qualcomm Inc.’s income from continuing operations before income taxes decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
Net income (loss) attributable to Qualcomm The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Qualcomm Inc.’s net income (loss) attributable to Qualcomm decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.