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
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Qualcomm Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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 Trends
- The total revenues displayed a generally increasing trend over the analyzed quarters, with some fluctuations. There was a notable peak in the quarter ending Sep 27, 2020, reaching 8,345 million USD, largely driven by a substantial increase in the licensing segment which spiked dramatically to 3,425 million USD during the same period. Revenues in equipment and services also showed growth over time, reaching their highest points towards the end of the period with some seasonal volatility.
- Cost of Revenues and Gross Profit
- The cost of revenues increased steadily in proportion to the rise in total revenues, peaking at 5,161 million USD in Dec 29, 2024. Despite this, gross profit generally increased over the timeline, though it experienced a sharp rise during the quarter ending Sep 27, 2020, coinciding with the surge in licensing revenue. Gross profits peaked at several points representing strong margins, but with some decline in the latter quarters suggesting pressure on profitability.
- Segment Analysis: Equipment and Services vs. Licensing
- The equipment and services segment showed consistent growth from 3,534 million USD in Dec 2019 to a peak around 9,942 million USD in Dec 2024, before slightly decreasing. The licensing segment fluctuated more, with a significant spike in Sep 2020 followed by stabilization at lower levels, suggesting episodic licensing events or timing differences in royalty income. Licensing revenues generally remained below the peaks seen in 2020, fluctuating around 1,400 to 1,700 million USD in recent quarters.
- Operating Expenses
- Research and development expenses steadily increased over the period, indicating a commitment to innovation and product development. Expenses rose from approximately 1,406 million USD in late 2019 to about 2,370 million USD in the latest quarter, showing increased investment in R&D. Selling, general, and administrative costs also showed an upward trend overall, rising from 528 million USD to as high as 910 million USD by the end of the analyzed timeline, reflecting increased selling and administration efforts.
- Operating Income
- Operating income demonstrated variability, characterized by sharp increases concurrent with spikes in licensing revenue and overall revenue growth. Peaks were observed around Sep 27, 2020 and Dec 26, 2021, after which operating income declined and stabilized with minor fluctuations. The trend indicates that while operating profitability was affected by cyclical or episodic events, the company managed to maintain positive operating income throughout most periods.
- Income from Continuing Operations and Net Income
- Income from continuing operations has broadly trended positively but displayed volatility linked to tax expenses and other income/expense items. There were large swings in income taxes, notably a steep expense spike in the final quarter reported (-6,088 million USD), which severely impacted net income in the last period, causing a significant net loss. Otherwise, net income closely followed the pattern of income from continuing operations with some contribution from discontinued operations, which had a minor but variable impact.
- Other Income/Expense and Interest Expense
- Interest expense remained relatively stable around 140 to 180 million USD, showing efficient debt management without significant borrowing cost fluctuations. Investment and other income experienced volatility with some negative spikes and positive rebounds, suggesting market-related gains or losses influencing overall profitability beyond core operations.
- Summary Insights
- The data suggests the company experienced significant revenue growth driven by both its equipment and services segment and episodic licensing events. Profitability improved over time, though challenged by rising operating expenses and variable tax impacts. Notable is the sharp decline in net income in the final quarter due to extraordinary tax expenses. Increasing investment in research and development indicates a strategic focus on innovation. Overall, while revenues and operating profit expanded, careful attention to expense management and tax planning appear critical to sustaining net profitability.