Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Qualcomm Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-23), 10-Q (reporting date: 2024-03-24), 10-Q (reporting date: 2023-12-24), 10-K (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-K (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-K (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29).
Revenue exhibits a general long-term upward trajectory, increasing from $5,077 million in December 2019 to a peak of $12,252 million in September 2025. This growth is primarily driven by the equipment and services segment, which grew from $3,534 million to a high of $10,466 million in December 2025, despite periodic quarterly fluctuations. In contrast, licensing revenue shows higher volatility, peaking early in September 2020 at $3,425 million before stabilizing within a range of $1,300 million to $2,000 million for the remainder of the period.
- Operating Expense Trends
- Research and development (R&D) expenditures demonstrate a consistent and steady increase, rising from $1,406 million in December 2019 to $2,463 million by March 2026. This represents a sustained commitment to technical investment. Selling, general and administrative (SG&A) expenses remained relatively stable between 2019 and 2023, followed by a gradual increase starting in 2024, peaking at $910 million in September 2025.
- Operational Profitability
- Operating income shows significant cyclicality. A notable peak occurred in June 2022 at $4,472 million, followed by a contraction period throughout 2023 where income dipped to $1,410 million in September 2023. Recovery is evident through 2024 and 2025, with operating income returning to the $2,300 million to $3,500 million range.
- Taxation and Net Income Volatility
- Net income is characterized by extreme volatility in the final quarters of the analyzed period, driven primarily by non-operational tax items. In September 2025, a substantial income tax expense of $6,088 million resulted in a net loss of $3,117 million. This was immediately followed by a significant tax benefit of $5,138 million in March 2026, which propelled net income to $7,370 million, the highest value in the dataset.
- Cost of Revenue and Gross Margin
- The cost of revenues has scaled proportionally with revenue growth, generally fluctuating between 40% and 50% of total revenues. Gross profit peaked at $6,684 million in December 2025, aligning with the highest revenue periods, indicating that the company has maintained relatively stable gross margins despite the increase in absolute costs.
Overall, the financial performance is marked by robust top-line growth and disciplined operational scaling, though the bottom line is subject to significant distortion from large, irregular tax adjustments in the most recent periods.