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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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Long-term (Investment) Activity Ratios
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Analysis of Revenues
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Qualcomm Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-30).
The financial data exhibits several notable trends over the quarters analyzed. Total revenues demonstrate significant volatility but generally follow an upward trajectory from late 2018 through 2025. There is a marked revenue spike in mid-2019 followed by fluctuations, with an overall recovery and growth trend from 2020 onwards, peaking around late 2024 and early 2025.
- Equipment and Services
- Equipment and services revenue shows substantial growth from 2018 through 2021, with a peak toward the end of 2021. After this peak, a decline ensues through 2022 and 2023, followed by some recovery but not reaching previous highs by mid-2025.
- Licensing
- Licensing revenue is marked by extreme volatility, with an exceptionally high spike in mid-2019, followed by sharp decreases and a fluctuating pattern. Although figures stabilize somewhat from 2020 onwards, licensing income never returns to the peak level observed in mid-2019, instead showing moderate ups and downs.
- Cost of Revenues and Gross Profit
- The cost of revenues generally trends upward, indicating increased expenses associated with revenue generation. Correspondingly, gross profit displays a strong correlation with total revenues, with high peaks following the surge in revenues, particularly in 2019 and from 2020 forward. Despite cost increases, gross profit sustains an overall ascending pattern, although with declines in late 2022 and 2023 before rising again in 2024.
- Research and Development (R&D)
- R&D expenditures consistently increase over the period, reflecting ongoing investment in innovation and technology. This trend is steady and shows a slight peak in late 2022, remaining elevated thereafter.
- Selling, General, and Administrative Expenses (SG&A)
- SG&A expenses demonstrate a gradual upward trend with some fluctuations. Notably, there are increases in late 2023 and 2024, which might be related to expanded operational activities or strategic initiatives.
- Other Income and Expenses
- This category exhibits considerable variability, with both positive and negative values sporadically recorded. Notable is a large positive entry around late 2021 followed by negative impacts across parts of 2022 and 2023. This volatility suggests fluctuating non-operating financial activities or exceptional items.
- Operating Income
- Operating income mirrors the revenue and gross profit trends with strong gains during peak revenue periods, notably mid-2019 and from 2020 onwards. A pronounced increase is evident in 2021 and 2024, although dips occur in late 2022 and 2023, indicating operational stresses or increased costs during those periods.
- Interest and Investment Income
- Interest expense remains relatively stable and controlled throughout the period, signifying steady debt service costs. Investment and other income show a mix of gains and losses, with substantial positive spikes in several quarters, especially from 2020 onwards, contributing positively to net income variability.
- Income before Taxes and Tax Expense
- Income before taxes fluctuates with operating income but generally trends upward from 2020, with peaks aligning with high operating profit quarters. Tax expenses display considerable variability, with some quarters showing benefits and others substantial expenses, impacting net income volatility.
- Net Income and Income from Continuing Operations
- Net income follows the pattern of operating and pre-tax income, with significant surges in mid-2019 and robust recovery and growth from 2020 onwards. Occasional declines are observed in 2022 and early 2023, but overall, the profitability strengthens toward the end of the period analyzed. Income from continuing operations closely tracks net income trends, confirming the company's ongoing core profitability despite some periods of fluctuation.
In summary, the data reveals an underlying growth trend in revenues and profitability, punctuated by occasional volatility primarily in licensing revenues and certain expense categories. Cost control in SG&A and R&D indicates sustained investment and operational expansion. The company's ability to maintain and grow gross and operating profit margins, despite fluctuating costs and non-operating income, suggests resilience and adaptability in its business model over the examined timeline.