Qualcomm Q4 revenues slips 18%

Operating income for the quarter amounted to USD 1.1 billion, down 43% compared to the forth quarter last year of USD 2.0 billion. Net income ended up at USD 1.1 billion, down 44% from the same period last year of USD1.9 billion. “Our fiscal fourth quarter revenues and EPS were at the high end of our expectations, with stronger-than expected MSM chipset shipments offsetting slower than expected progress concluding new license agreements in China. We executed a major increase in our capital return program in fiscal 2015, returning a record USD 14 billion of capital to stockholders,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We are encouraged by customer reaction to our flagship Snapdragon 820, are on track to deliver on our fiscal 2016 cost reduction targets and expect to exit fiscal 2016 on an improving financial trajectory.” For the full year the company recorded revenues of USD 25.3 billion, down 5% from USD 26.5B during 2014. Full year operating income amounted to USD 5.8 billion, down 12% from USD 7.6 billion during 2014. Net income for the full year landed at USD 5.3 billion, down 34% compared to 2014's USD 8.0 billion.