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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- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Debt to Equity 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: 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 reveals several notable trends and patterns across the quarterly periods analyzed.
- Revenues
- Revenues show substantial volatility with a pronounced peak in June 2019, reaching over $9.6 billion, which significantly exceeds adjacent quarters. Following this spike, revenues stabilize but remain elevated overall compared to the early periods, with steady growth observed from late 2020 through 2025, culminating near $11.7 billion in late 2024 before a slight dip in early 2025.
- Equipment and Services
- This segment exhibits a general upward trajectory starting from approximately $3.7 billion in 2018, rising steadily and peaking at over $9.9 billion in late 2024. Despite some fluctuation, the trend reflects sustained growth, suggesting expanding business operations or demand over the period.
- Licensing
- Licensing shows a highly irregular pattern with a dramatic spike in June 2019 at $6.1 billion, an anomaly compared to other quarters where values mostly range between $1 billion and $2 billion. Post-2019, these revenues generally moderate and stabilize around $1.3 to $1.7 billion, indicating more predictable and steady licensing income after the earlier spike.
- Cost of Revenues
- Costs trend upward in a pattern broadly consistent with revenue increases, moving from approximately $2.1 billion in 2018 to over $5 billion in late 2024, though not perfectly correlated. Notably, peak cost periods align approximately with peak revenue times, reflecting scalable cost behavior alongside revenue expansion.
- Gross Profit
- Gross profit mirrors revenue trends, with a significant spike in June 2019 coinciding with elevated revenues and licensing income. Afterward, gross profit strengthens through 2021 and 2022, peaking around $6.5 billion in late 2024 before a slight decrease in early 2025, indicating sustained profitability improvements overall.
- Operating Expenses (R&D and SG&A)
- Research and development expenses steadily increase from $1.27 billion in 2018 to about $2.3 billion by 2024, evidencing continuous investment in innovation. Selling, general, and administrative costs also show an upward trend, rising from roughly $0.53 billion to around $0.7 billion, reflecting scaling support functions with growing operations.
- Operating Income
- Operating income exhibits marked volatility with a notable surge in June 2019 to over $5.3 billion, followed by more stable but generally rising income from 2020 onward, peaking near $3.9 billion in late 2024. Early years display lower profit margins relative to later periods, suggesting improved operational efficiency.
- Interest Expense and Other Income
- Interest expense remains relatively stable, averaging around $0.15 billion quarterly, without major fluctuations. Investment and other income show considerable variability, including significant positive spikes in mid-2021, contributing positively to overall profitability in some quarters.
- Income from Continuing Operations and Net Income
- Income from continuing operations aligns with operating income trends and exhibits the same June 2019 spike. Thereafter, it maintains a healthier, more consistent level with ongoing growth through 2024. Net income closely tracks income from continuing operations, with minor impacts from discontinued operations, which remain small by comparison. The overall pattern signals strengthening profitability and effective tax and expense management.
- Other Insights
- The data includes an irregular “Other” category with inconsistent values, notably a large positive figure in early 2022, potentially reflecting special items or one-time events, which could influence certain quarterly results. Discontinued operations appear minimal and sporadic, exerting negligible influence on net income trends.
In summary, the quarterly financials reveal significant growth and fluctuation influenced by extraordinary quarterly events around mid-2019, followed by a period of steady revenue increase, margin improvement, and expanding profitability through 2024. Increased investment in research and development and controlled operating expenses suggest strategic long-term growth focus. The company demonstrates enhanced income consistency and operational efficiency in later years compared to initial volatility.