QCOM · QUALCOMM INC/DE

391 filings

QCOM SEC Filings

QUALCOMM INC/DE - 391 total filings

Filing record · 2016–202610-K1010-Q338-K138

Showing 1–50 of 391 filings

QUALCOMM INC/DE 8-K Report, Unregistered Securities Sale (Sep 8, 2026)

QUALCOMM Incorporated (QCOM) announced the issuance of a warrant to an affiliate of Amazon, granting them the right to acquire up to 25 million shares of QCOM's common stock at an exercise price of $161.26 per share. This warrant is a component of a strategic collaboration focused on Amazon's purchase of QTI server chip products, technology, systems, and manufacturing services. The warrant is subject to vesting tied to specific commercial arrangements and purchase commitments from Amazon, up to a potential $60 billion in payments. While 3.75 million shares are vested immediately based on initial commitments, the full potential dilution is linked to future Amazon spending. This issuance is being conducted under an exemption from registration, signifying a non-dilutive event at present but with potential future dilution depending on the success of the collaboration.

Sep 8, 2026 8-K

QUALCOMM INC/DE 8-K Report, Corporate Update (Jul 31, 2026)

Qualcomm Incorporated (QCOM) has filed an 8-K report detailing the resale of 17,826,566 shares of common stock by selling stockholders. These shares represent the consideration issued for the previously announced acquisition of Modular Inc. The filing includes a prospectus supplement to the Company's Form S-3ASR registration statement, facilitating the resale of these shares which were originally issued in a private placement exempt from registration requirements. This event is significant for investors as it marks the formal process for a large block of shares, issued as acquisition consideration, to become available for trading in the public market. The filing clarifies the regulatory steps taken to allow for this resale, fulfilling obligations under a Registration Rights Agreement. Investors should monitor the market impact of these shares becoming available and consider the ongoing integration and strategic value of the Modular Inc. acquisition.

Jul 31, 2026 10-Q

QUALCOMM INC/DE Quarterly Report for Q3 Ended Jun 28, 2026

Qualcomm Incorporated's (QCOM) 10-Q filing for the period ending June 28, 2026, reveals a decrease in total revenues to $9.9 billion for the third quarter, down 4% year-over-year, and a significant 25% drop in net income to $2.0 billion. This performance was primarily driven by a 5% decline in QCT (Qualcomm CDMA Technologies) segment revenues, largely due to lower handset revenues, though partially offset by growth in automotive and IoT segments. Licensing revenues (QTL) saw a modest 3% decrease. The company reported a substantial $5.7 billion income tax benefit in the second quarter of fiscal 2026 due to the release of a valuation allowance on federal deferred tax assets, significantly impacting the year-to-date net income and overall effective tax rate. Looking ahead, Qualcomm anticipates continued headwinds in the handset market due to memory supply constraints and pricing increases impacting customer demand. The company also notes increasing input costs and capacity constraints in the broader semiconductor industry. Despite these challenges, Qualcomm continues to invest in growth and diversification, particularly in AI, automotive, and IoT. The company also announced two significant acquisitions: Alphawave IP Group plc for $2.3 billion to bolster its data center business and Modular Inc. for approximately $3.1 billion to strengthen its AI software foundation. These strategic moves signal a focus on long-term growth beyond traditional mobile markets.

Jul 29, 2026 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Jul 29, 2026)

Qualcomm (QCOM) reported fiscal Q3 2026 results (quarter ended June 28, 2026) with revenues of $9.9 billion, down 4% year-over-year, and GAAP diluted EPS of $1.87 (down 23%) versus non-GAAP EPS of $2.21 (down 20%). The headline growth story is in Automotive and IoT: combined QCT Automotive and IoT revenues grew 28% year-over-year, with Automotive up 61% to $1.59 billion. Handsets fell 20% to $5.09 billion, driving the overall decline. Management cited a challenging memory and supply environment, and GAAP operating income fell 41% to $1.63 billion as R&D rose 17% and SG&A rose 27%. Non-GAAP EBT margin for QCT compressed to 26% from 30%. Capital returns remained substantial, with $2.3 billion returned to stockholders in the quarter, including $973 million in dividends and $1.4 billion in buybacks. The balance sheet shows notable changes: goodwill rose to $14.3 billion and deferred tax assets jumped to $5.7 billion, reflecting the completed Modular Inc. acquisition and a large tax benefit. Nine-month GAAP net income of $12.4 billion was inflated by a $4.1 billion income tax benefit, so it should not be read as operating profitability. Management reiterated a target of $40 billion in non-handset revenues by fiscal 2029 and expects non-handset revenue growth, including Data Center, to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027. For investors, the key tension is between a shrinking handset franchise and a rapidly growing diversified business that is not yet large enough to offset it. Near-term margin pressure from input costs and elevated R&D spending, along with China concentration and customer vertical integration risks, will determine whether the fiscal 2027 inflection is achieved. The filing itself is a Regulation FD-compliant earnings release furnished under Item 2.02 and does not include guidance details in the excerpt provided.

Jul 29, 2026 8-K

QUALCOMM INC/DE 8-K Report, Unregistered Securities Sale (Jun 24, 2026)

Qualcomm Incorporated (QCOM) announced a significant strategic move through an 8-K filing on June 24, 2026, detailing an agreement to acquire Modular Inc. This acquisition will be primarily financed through the issuance of up to 19.2 million shares of QCOM's common stock to Modular's equity owners. The transaction is structured as a private placement, leveraging exemptions under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, indicating that registration with the SEC is not required for these shares. While the acquisition is expected to enhance Qualcomm's strategic position, investors should note the inherent risks and uncertainties associated with such transactions. The filing emphasizes that the completion of the acquisition is subject to customary closing conditions, and actual results could differ materially from expectations. Key factors influencing the outcome include the timing and ability to close the deal, potential impacts on Modular's business relationships, the achievement of projected benefits, and the possibility of unforeseen liabilities or purchase price adjustments that could affect the final share count.

Jun 24, 2026 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Apr 29, 2026)

QUALCOMM's fiscal Q2 2026 (quarter ended March 29, 2026) revenue was $10.6 billion, down 3% year-over-year on a GAAP basis and 2% on a non-GAAP basis. QCT revenue fell 4% to $9.1 billion, driven by a 13% decline in handset revenue to $6.0 billion, which management attributes to a challenging memory supply and pricing environment. Offsetting this, Automotive revenue rose 38% to a record $1.3 billion and IoT grew 9% to $1.7 billion; combined Automotive and IoT revenue grew 20%. QTL licensing revenue increased 5% to $1.4 billion. Non-GAAP diluted EPS was $2.65, down 7% from $2.85, while non-GAAP operating income fell to $3.3 billion from $3.7 billion. GAAP diluted EPS of $6.88 is not representative of underlying operating performance. It includes a $5.7 billion ($5.33 per share) income tax benefit from releasing a valuation allowance established in Q4 fiscal 2025, as the company now expects to realize its existing federal deferred tax assets following IRS and Treasury guidance on the corporate alternative minimum tax. This benefit is excluded from non-GAAP results. Investors should focus on the non-GAAP trend, which shows margin pressure: non-GAAP EBT margin fell to 31% from 34%, and R&D rose meaningfully on a GAAP basis to $2.46 billion from $2.22 billion. Capital return remained substantial, with $3.7 billion returned to stockholders in the quarter, including $945 million in dividends and $2.8 billion in buybacks of 19 million shares. The company completed $5.4 billion of repurchases in the first half of fiscal 2026 and announced a new $20 billion authorization. Management highlighted its entry into the data center market through a custom silicon engagement with a leading hyperscaler, with initial shipments expected later this calendar year, and plans to provide an update at its Investor Day on June 24, 2026. Balance sheet changes include goodwill rising to $14.3 billion from $11.4 billion, likely reflecting acquisitions, and a $6.0 billion deferred tax asset position.

Apr 29, 2026 10-Q

QUALCOMM INC/DE Quarterly Report for Q2 Ended Mar 29, 2026

QUALCOMM INC/DE (QCOM) reported revenues of $10.6 billion for the six months ended March 29, 2026, a slight increase from the prior year's $10.5 billion. Net income saw a substantial surge to $10.4 billion from $6.0 billion in the same period, largely driven by a significant one-time income tax benefit. The company's QCT (Qualcomm CDMA Technologies) segment experienced a revenue decrease in the most recent quarter but saw an increase over the six-month period, with growth in Automotive and IoT offsetting a decline in Handsets, the latter attributed to inventory adjustments by OEMs due to memory supply constraints. The QTL (Qualcomm Technology Licensing) segment demonstrated consistent revenue growth and strong profitability. Key financial events in the period include a $5.7 billion income tax benefit realized in the second quarter of fiscal 2026 due to the release of a valuation allowance on federal deferred tax assets, influenced by updated U.S. tax guidance. The company also announced a new $20.0 billion stock repurchase program and increased its quarterly dividend. Significant investments in R&D continue, particularly for diversification efforts. Despite ongoing risks related to customer concentration, competition, and geopolitical factors, Qualcomm remains focused on on-device AI and high-performance computing as future growth drivers.

Apr 29, 2026 8-K

QUALCOMM INC/DE 8-K Report, Shareholder Vote Results (Mar 19, 2026)

Qualcomm Incorporated (QCOM) filed an 8-K on March 19, 2026, detailing the results of its 2026 Annual Meeting of Stockholders held on March 17, 2026. The meeting focused on seven proposals, all of which received overwhelming support from shareholders except for two specific stockholder proposals. Key among these results is the re-election of all director nominees, indicating continued confidence in the company's leadership and strategic direction. Furthermore, shareholders ratified the appointment of PricewaterhouseCoopers LLP as the independent public accountants for fiscal year 2026 and approved, on an advisory basis, the compensation of named executive officers. The company also received approval to amend and restate its 2023 Long-Term Incentive Plan, which includes an increase in the share reserve, signaling a continued focus on employee incentives. Importantly, two stockholder proposals concerning the ability to call special meetings and a report on China exposure were not approved, suggesting management's preferred approach on these matters prevailed.

Mar 19, 2026 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Feb 4, 2026)

Qualcomm (QCOM) reported fiscal Q1 2026 results (quarter ended December 28, 2025) with record total company revenues of $12.25 billion, up 5% year over year. GAAP diluted EPS was $2.78, down 2% from $2.83, while non-GAAP diluted EPS rose 3% to $3.50 from $3.41. GAAP net income fell 6% to $3.0 billion, and non-GAAP net income fell 1% to $3.8 billion, reflecting higher share-based compensation and a higher GAAP-to-non-GAAP gap. QCT (chip business) revenue grew 5% to $10.6 billion, led by automotive (+15% to $1.10 billion, the second straight quarter above $1 billion) and IoT (+9% to $1.69 billion), while handsets grew a more modest 3% to $7.82 billion. QTL (licensing) revenue rose 4% to $1.59 billion with a 77% EBT margin. Management flagged a near-term handsets headwind from industry-wide memory supply constraints, though CEO Cristiano Amon said end-consumer demand for premium smartphones remains encouraging and that the company remains on track for its fiscal 2029 revenue goals. The completed acquisition of Alphawave Semi, which lifted goodwill to $14.2 billion from $11.4 billion, is positioned as an expansion into data centers. Capital returns were $3.6 billion in the quarter, including $2.65 billion in buybacks (15 million shares) and $949 million in dividends. Operating cash flow was $4.97 billion, but free cash flow after $549 million of capex was about $4.4 billion. Investors should weigh the strong top-line and non-GAAP earnings growth against softer GAAP profitability, the memory-driven handset outlook, and the integration risk and balance sheet impact of the Alphawave deal. The filing itself is a press release furnished under Item 2.02, and it contains no forward guidance figures in the excerpt provided, so the Q2 outlook must be checked in the full release.

Feb 4, 2026 10-Q

QUALCOMM INC/DE Quarterly Report for Q1 Ended Dec 28, 2025

Qualcomm Inc./DE (QCOM) reported total revenues of $12.25 billion for the first quarter of fiscal 2026, a 5% increase year-over-year, driven by growth in both its Equipment and Services (QCT) and Licensing (QTL) segments. QCT revenues rose 5% to $10.61 billion, primarily due to higher shipments in handsets, automotive, and IoT. QTL revenues grew 4% to $1.59 billion, supported by increased cellular product sales. Despite the revenue growth, net income saw a 6% decrease to $3.0 billion, or $2.78 per diluted share, compared to $3.18 billion in the prior year. This decrease was influenced by higher operating expenses, including increased R&D and SG&A costs, and a slight decrease in the QCT gross margin percentage. The company completed the significant acquisition of Alphawave IP Group plc for $2.3 billion to bolster its expansion into data centers. Qualcomm also continues to return capital to shareholders, repurchasing $2.65 billion of its common stock and paying $949 million in dividends during the quarter. The outlook remains cautious due to expected memory supply constraints impacting handset demand and continued intense competition, including vertical integration by key customers. Management anticipates these factors will negatively affect financial results in the coming quarters.

Feb 4, 2026 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Jan 16, 2026)

Qualcomm Incorporated (QCOM) has announced a change to its Board of Directors. Christopher D. Young, a current board member, has informed the company of his decision to step down from the Board. This departure is effective as of the Company's 2026 Annual Meeting of Stockholders. Mr. Young's resignation is attributed to the significant time commitment required by his new executive role as Chief Executive Officer and a board member at Vertex, Inc. While this represents a change in board composition, it does not appear to be related to any operational or financial issues within Qualcomm itself. Investors should monitor the company's future announcements regarding the appointment of new directors to fill the vacancy.

Jan 16, 2026 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Dec 16, 2025)

Qualcomm Inc. (QCOM) has disclosed that Kornelis (Neil) Smit will be retiring from its Board of Directors, effective at the company's 2026 Annual Meeting of Stockholders. Mr. Smit has served on the board for approximately eight years. While the departure of a board member is a routine event, investors may want to monitor the company's strategy for board refreshment and succession planning to ensure continued strong governance and oversight. The timing of this announcement, well in advance of the annual meeting, allows for a thoughtful transition and identification of a suitable replacement. This filing does not indicate any immediate operational or financial changes within Qualcomm. However, the composition of the board is a key factor for long-term strategic direction and corporate governance. Investors should look for future communications regarding the nomination and election of new directors to assess any potential shifts in the board's expertise or perspective. The company's commitment to a smooth transition for Mr. Smit's departure will be a point of interest.

Dec 16, 2025 8-K

QUALCOMM INC/DE 8-K Report, Bylaw Amendment (Dec 10, 2025)

Qualcomm Incorporated (QCOM) has filed an 8-K report detailing amendments to its corporate governance structure. Effective December 9, 2025, the Company's Board of Directors approved Amended and Restated Bylaws that grant stockholders holding at least 25% of net long ownership the ability to call a special meeting. This change empowers a significant minority shareholder group to convene special meetings, provided certain conditions regarding continuous ownership for at least one year and adherence to informational and timing requirements are met. This update to the bylaws is a significant governance change that could impact shareholder engagement and activism. Investors should note that while this provision lowers the threshold for calling special meetings compared to some other companies, it still requires a substantial ownership stake and adherence to procedural rules. The intent is to balance enhanced shareholder rights with operational efficiency, preventing undue disruption from multiple meetings.

Dec 10, 2025 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Nov 5, 2025)

Qualcomm reported fiscal Q4 and full-year 2025 results (year ended September 28, 2025). Fiscal 2025 GAAP revenue rose 14% to $44.3 billion, and non-GAAP revenue rose 13% to $44.1 billion. QCT (Qualcomm CDMA Technologies) had record fiscal-year revenue of $38.4 billion, up 16%, and QCT non-Apple revenue grew 18%. Automotive and IoT combined grew 27%, which management cites as evidence of diversification beyond handsets. Fiscal 2025 non-GAAP diluted EPS was $12.03, up 18%. Handsets, the largest QCT revenue stream, grew 12% for the year, while automotive revenue grew 36% and IoT grew 22%. GAAP results were distorted by a non-cash $5.7 billion income tax charge ($5.29 per share) in Q4 to establish a valuation allowance against U.S. federal deferred tax assets. The charge follows the One Big Beautiful Bill Act, under which Qualcomm expects to be subject to the U.S. corporate alternative minimum tax starting in fiscal 2026. As a result, Q4 GAAP net loss was $3.1 billion, or $(2.89) per diluted share, versus GAAP net income of $2.9 billion a year earlier. Full-year GAAP EPS fell 44% to $5.01. Excluding this charge, Q4 non-GAAP EPS was $3.00, up 12%, on revenue of $11.3 billion, up 10%. Management expects an effective tax rate of roughly 13% to 14% and lower cash tax payments in future periods. Capital returns were substantial. Fiscal 2025 operating cash flow was $14.0 billion, up from $12.2 billion. Qualcomm returned $12.6 billion to stockholders through $8.8 billion of buybacks and $3.8 billion of dividends. Long-term debt rose to $14.8 billion from $13.3 billion, and total stockholders' equity declined to $21.2 billion, largely because of buybacks and the tax charge. The filing does not include the Business Outlook table, so specific fiscal 2026 revenue and EPS guidance cannot be confirmed from this document. Investors should review the full press release or the earnings call for guidance.

Nov 5, 2025 10-K

QUALCOMM INC/DE Annual Report, Year Ended Sep 28, 2025

Qualcomm's fiscal 2025 (ended September 28, 2025) was a tale of two very different stories. Revenue grew 14% to $44.3 billion, driven by a 16% increase in QCT (semiconductor) revenue to $38.4 billion, led by higher handset ASPs and premium-tier Snapdragon mix, plus strong IoT and automotive growth. Operating income rose to $12.4 billion from $10.1 billion, and QTL licensing was roughly flat at $5.6 billion. However, GAAP net income fell 45% to $5.5 billion, almost entirely because of a $5.7 billion non-cash income tax charge to establish a valuation allowance against most federal deferred tax assets, following the OBBB tax legislation and Qualcomm's expectation of being perpetually subject to the corporate alternative minimum tax. Excluding this charge, earnings would have been meaningfully higher, though the effective tax rate was 56%. The filing also highlights structural risks investors should weigh. Management explicitly states that Apple will increasingly use its own modem, which it expects to have a significant negative impact on QCT revenues, and Chinese OEMs and U.S./China trade tensions add further concentration risk. Customer concentration remains high, with three customers each above 10% of revenue, and the Huawei export license revocation removed a meaningful revenue source. Gross margin slipped to 55% from 56%, and R&D spending was roughly flat, with R&D falling to 20% of revenue. Management is pursuing diversification into automotive, IoT and data center, and is pending the acquisition of Alphawave IP for approximately $2.4 billion, expected to close in calendar Q1 2026. Capital returns remained substantial: $12.6 billion was returned in fiscal 2025 through $8.8 billion of buybacks and $3.8 billion of dividends, with $7.2 billion remaining under the repurchase authorization. Operating cash flow rose to $14.0 billion. Cash and marketable securities of $12.5 billion (including $2.3 billion of restricted cash for Alphawave) compare with $14.8 billion of debt. The company also faces ongoing litigation, notably the Arm dispute over Nuvia-derived CPU designs (a final judgment in Qualcomm's favor was entered September 30, 2025, but Arm has appealed), and ParkerVision. Management expects a favorable cash tax impact in fiscal 2026 because domestic R&D expensing is permanently reinstated.

Nov 5, 2025 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Sep 2, 2025)

QUALCOMM Incorporated announced a significant addition to its Board of Directors with the election of Dr. Jeremy (Zico) Kolter, a distinguished Professor and Department Head in Machine Learning at Carnegie Mellon University. This appointment, effective September 2, 2025, brings specialized expertise in a critical technological field that is increasingly relevant to Qualcomm's core businesses in mobile, automotive, and IoT. Dr. Kolter's appointment to the Board, as well as his concurrent inclusion on the Governance Committee, suggests a strategic focus by Qualcomm on strengthening its oversight and strategic direction in areas related to artificial intelligence and advanced computing. Investors should view this as a positive signal, indicating the company's commitment to staying at the forefront of technological innovation and ensuring robust governance structures are in place to support future growth and development. Dr. Kolter will receive standard compensation for his non-employee director role, including a pro-rata grant of deferred stock units.

Sep 2, 2025 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Aug 25, 2025)

Qualcomm Inc. (QCOM) filed an 8-K on August 25, 2025, announcing a significant shift in its finance leadership. Neil Martin, formerly the Senior Vice President, Finance and Chief Accounting Officer, has moved to a new role as Senior Vice President, Corporate Development, where he will spearhead Mergers & Acquisitions and strategic initiatives. This transition is effective immediately, with Mr. Martin stepping down as Chief Accounting Officer. In a related move, Patricia Grech has been appointed as the new Senior Vice President and Chief Accounting Officer. Ms. Grech, who has an extensive background within Qualcomm's finance department since 2006, most recently served as Vice President, Finance and Controller. Her compensation package for this new role includes a base salary of $380,546, a target bonus of 35% of her base salary starting in fiscal year 2026, and a $85,000 restricted stock unit promotion grant, along with standard employee benefits.

Aug 25, 2025 10-Q

QUALCOMM INC/DE Quarterly Report for Q3 Ended Jun 29, 2025

Qualcomm Inc./DE (QCOM) reported strong revenue and profit growth for the third quarter and first nine months of fiscal year 2025. Total revenues reached $10.4 billion for the quarter, a 10% increase year-over-year, and $33.0 billion for the nine-month period, up 15%. Net income saw a substantial rise of 25% year-over-year to $2.7 billion for the quarter, and the nine-month net income grew to $8.7 billion. This performance was driven by robust growth in the QCT segment, particularly in handsets, automotive, and IoT, which saw revenues increase by 11% and 39% respectively for the quarter and nine-month period. The QTL segment also contributed with a 4% revenue increase in the quarter. The company announced a pending acquisition of Alphawave IP Group plc for approximately $2.4 billion to bolster its data center expansion, and continues to execute on its capital return program with significant share repurchases and dividends.

Jul 30, 2025 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Jul 30, 2025)

Qualcomm reported fiscal third-quarter 2025 results (quarter ended June 29, 2025) with revenue of $10.37 billion, up 10% year over year. GAAP diluted EPS was $2.43, up 29%, and non-GAAP diluted EPS was $2.77, up 19%. The growth was led by QCT, where revenue rose 11% to $8.99 billion. Within QCT, Automotive revenue grew 21% to a record $984 million and IoT grew 24% to $1.68 billion. Combined, these diversification businesses grew about 23%, which supports management's thesis that the company is reducing its reliance on handsets. Handset revenue grew 7%, and QTL licensing revenue grew 4% to $1.32 billion. Capital returns were substantial. Qualcomm returned $3.8 billion to stockholders in the quarter, including $967 million in dividends ($0.89 per share) and $2.8 billion in repurchases of 19 million shares. Nine-month repurchases totaled $6.3 billion, and management says it remains on track to meet its accelerated buyback commitment in fiscal 2025. Shares outstanding fell to 1,084 million from 1,113 million at the end of fiscal 2024. Balance sheet changes merit attention: long-term debt rose to $14.8 billion from $13.3 billion, short-term debt was fully repaid, and $2.3 billion of cash is now classified as restricted. Nine-month operating cash flow was $10.0 billion. The excerpt does not include the full Business Outlook section, so the fourth-quarter guidance figures are not available here. The filing does note that fourth-quarter GAAP EPS will be affected by the requirement to capitalize R&D expenditures for U.S. tax purposes, partly offset by acquisition-related items. Investors should review the complete press release and the earnings call for guidance details. Non-GAAP results exclude the QSI strategic investments segment, share-based compensation, and certain acquisition-related and other items, so GAAP and non-GAAP figures differ materially.

Jul 30, 2025 8-K

QUALCOMM INC/DE 8-K Report, Unregistered Securities Sale (Jun 9, 2025)

QUALCOMM Incorporated (QCOM) has announced a recommended acquisition of Alphawave IP Group plc (Alphawave) through its subsidiary Aqua Acquisition Sub LLC. The acquisition offers Alphawave shareholders a cash consideration of $2.48 per share. Alternatively, shareholders can elect to receive a mix of Qualcomm common stock or new exchangeable securities. The maximum potential issuance of Qualcomm shares in this transaction is estimated at 15,575,072, representing approximately 1.4% of Qualcomm's outstanding shares as of April 28, 2025. The issuance of these new Qualcomm shares will rely on an exemption from registration under the Securities Act of 1933, contingent upon UK High Court approval. This filing primarily serves to disclose the terms of the acquisition and the potential issuance of unregistered equity securities. Investors should note that the transaction is subject to various closing conditions and regulatory approvals. The forward-looking statements included highlight the inherent risks and uncertainties associated with such a transaction, including potential delays, the ability to complete the acquisition, and the integration of Alphawave's business.

Jun 9, 2025 8-K

QUALCOMM INC/DE 8-K Report, Material Agreement (May 22, 2025)

QUALCOMM Incorporated (QCOM) has filed an 8-K report detailing a significant debt financing transaction. The company has successfully issued and sold a total of $1.5 billion in aggregate principal amount of senior unsecured notes across three tranches: $500 million of 4.500% Notes due 2030, $400 million of 4.750% Notes due 2032, and $600 million of 5.000% Notes due 2035. This offering was conducted as a registered public offering under the company's existing shelf registration statement. The proceeds from this issuance are expected to bolster QUALCOMM's liquidity and support its ongoing operational and strategic initiatives. The notes are senior unsecured obligations, ranking equally with other existing senior debt. The filing outlines the interest rates, maturity dates, and semi-annual interest payment schedule. Standard covenants and events of default, including acceleration provisions for payment failures and bankruptcy events, are also detailed.

May 22, 2025 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (May 13, 2025)

Qualcomm Incorporated announced a significant addition to its Board of Directors with the election of Christopher D. Young, a former Executive Vice President from Microsoft Corporation. Mr. Young brings a wealth of experience from his previous role overseeing business development, strategy, and ventures, which is expected to be a valuable asset to Qualcomm's strategic direction and growth initiatives. His appointment, effective May 12, 2025, is for a term concluding at the next annual meeting, and he has also been appointed to the HR and Compensation Committee, indicating a direct role in executive compensation and human capital strategy.

May 13, 2025 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Apr 30, 2025)

Qualcomm reported fiscal Q2 2025 results (quarter ended March 30, 2025) with GAAP revenue of $10.98 billion, up 17% year over year, and GAAP diluted EPS of $2.52, up 22%. Non-GAAP revenue was $10.84 billion (up 15%) and non-GAAP diluted EPS was $2.85 (up 17%). The growth was driven by the QCT semiconductor segment, where revenue rose 18% to $9.47 billion and segment EBT rose 25%. Automotive and IoT together grew 38%, supporting the company's diversification strategy, while handset revenue grew 12%. Licensing (QTL) revenue was flat at $1.32 billion, and QTL segment EBT was flat at $929 million. GAAP revenue includes about $143 million of licensing revenue from a settlement of a licensing dispute, which management excluded from non-GAAP results. Profitability improved. GAAP operating income rose 33% to $3.12 billion, and non-GAAP EBT margin was 34%. Management returned $2.7 billion to stockholders in the quarter, including $938 million in dividends ($0.85 per share) and $1.7 billion for the repurchase of 11 million shares. Liquidity remained solid at March 30, 2025, with $7.2 billion in cash and equivalents and $6.6 billion in marketable securities against $14.6 billion of total debt. The 8-K excerpt does not include the Business Outlook table, so third-quarter guidance is not reflected in this analysis. Investors should review that section of the full press release for forward guidance.

Apr 30, 2025 10-Q

QUALCOMM INC/DE Quarterly Report for Q2 Ended Mar 30, 2025

QUALCOMM INC/DE (QCOM) reported strong financial results for the quarter and six months ended March 30, 2025. Total revenues grew 17% year-over-year to $10.98 billion for the quarter and 17% to $22.65 billion for the first six months. Net income also saw significant increases, up 21% to $2.81 billion for the quarter and 18% to $5.99 billion for the six-month period. This growth was primarily driven by a substantial increase in Equipment and Services revenue, particularly within the QCT segment, which saw a 18% jump in quarterly revenue due to higher handset, automotive, and IoT sales. The company also highlighted its ongoing commitment to returning capital to shareholders, increasing its quarterly dividend and continuing its stock repurchase program. Despite a strong performance, the company faces ongoing risks, including increasing competition, customer vertical integration, and geopolitical tensions, notably concerning its significant business in China. The report also details progress in resolving legal matters, including the ParkerVision and Arm litigation, with recent favorable rulings or developments. Looking ahead, QUALCOMM anticipates continued growth driven by the expansion of 5G technology into automotive and IoT sectors. However, the company acknowledges potential headwinds from evolving global trade policies, the cyclical nature of the semiconductor industry, and the strategic shift of key customers, such as Apple, towards internal modem development. The company maintains a strong liquidity position with substantial cash, cash equivalents, and marketable securities, and expects its resources to meet its capital requirements for at least the next 12 months.

Apr 30, 2025 8-K

QUALCOMM INC/DE 8-K Report, Shareholder Vote Results (Mar 20, 2025)

QUALCOMM Incorporated (QCOM) has filed an 8-K detailing the results of its 2025 Annual Meeting of Stockholders held on March 18, 2025. The meeting addressed five proposals, all of which passed with substantial support from shareholders, with the exception of a stockholder proposal regarding retirement benefits. The election of directors saw all nominees receive a strong majority of votes cast, indicating continued confidence in the current leadership. Additionally, shareholders ratified PricewaterhouseCoopers LLP as the independent public accountants for the upcoming fiscal year, approved executive compensation on an advisory basis, and authorized an increase in the share reserve for the company's long-term incentive plan.

Mar 20, 2025 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Feb 5, 2025)

Qualcomm (QCOM) reported fiscal Q1 2025 results (quarter ended December 29, 2024) that set multiple records. GAAP revenue rose 17% year over year to $11.7 billion, and GAAP diluted EPS increased 15% to $2.83. Non-GAAP diluted EPS rose 24% to a record $3.41 on non-GAAP revenue growth of 18%. Growth was led by QCT (Qualcomm CDMA Technologies, the chip business), where revenue grew 20% to $10.1 billion, a record above $10 billion. Handsets reached a quarterly record at $7.6 billion (+13%), automotive reached its sixth consecutive quarter of record revenue at $961 million (+61%), and IoT grew 36% to $1.5 billion. QTL (licensing) revenue grew 5% to $1.5 billion, with segment EBT margin of 75%. Cash generation and capital returns were strong. Operating cash flow was $4.6 billion, up from $2.9 billion, and the company returned $2.7 billion to stockholders, including $942 million in dividends and $1.8 billion in buybacks of 11 million shares. Balance sheet cash and marketable securities totaled roughly $14.3 billion, while total debt was about $14.6 billion. GAAP results include a $164 million foreign currency loss tied to a Korean withholding tax refund claim, and GAAP EBT was depressed relative to non-GAAP by share-based compensation of $758 million. Management reiterated its fiscal 2029 target of $22 billion in non-handset revenue and flagged that Q2 guidance includes revenue from the settlement of a dispute. This 8-K furnishes the earnings release under Item 2.02 and does not itself contain guidance figures, which appear in the attached press release's Business Outlook section, not reproduced in the text provided. Investors should note that the company's reliance on handset customers and its China exposure remain key risks.

Feb 5, 2025 10-Q

QUALCOMM INC/DE Quarterly Report for Q1 Ended Dec 29, 2024

Qualcomm Inc. (QCOM) reported strong financial results for the first quarter of fiscal year 2025, with total revenues reaching $11.7 billion, a 17% increase year-over-year. Net income also saw a substantial rise of 15% to $3.2 billion. This growth was primarily driven by a robust performance in the QCT (Qualcomm CDMA Technologies) segment, which experienced a 20% revenue increase due to higher shipments and average selling prices in handsets, alongside significant growth in automotive and IoT sectors. The company's licensing division, QTL, also contributed positively with a 5% revenue increase. Qualcomm continues to return value to shareholders, demonstrating this through ongoing stock repurchase programs and an increased dividend payout. Despite the positive financial performance, the company faces ongoing risks including intense competition, customer vertical integration, and geopolitical tensions, particularly concerning U.S./China relations, which are detailed in the risk factors section.

Feb 5, 2025 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Dec 12, 2024)

Qualcomm Inc. (QCOM) announced a significant leadership transition within its technology division. Dr. James H. Thompson, the long-serving Chief Technology Officer (CTO), has announced his intention to retire from his CTO role effective February 3, 2025. This marks the end of an era for the company's technological direction under his leadership. However, Dr. Thompson will continue to contribute to Qualcomm in an advisory capacity, ensuring a smooth transition and continued support for key projects. Stepping into the leadership role, Dr. Baaziz Achour, currently Deputy CTO, has been appointed CTO-elect, effective immediately. Dr. Achour will formally assume the CTO position upon Dr. Thompson's retirement. Investors should monitor how this transition impacts Qualcomm's innovation pipeline and the execution of its future technology strategies under Dr. Achour's guidance.

Dec 12, 2024 10-K

QUALCOMM INC/DE Annual Report, Year Ended Sep 29, 2024

QUALCOMM's fiscal 2024 (ended September 29, 2024, a 53-week year) was a strong year on the top and bottom lines. Revenue rose 9% to $39.0 billion and net income jumped 40% to $10.1 billion, with diluted EPS of $8.97 versus $6.42 a year earlier. Growth came mainly from QCT (semiconductors), where revenue rose 9% to $33.2 billion on higher handset chipset shipments as OEM inventories normalized, plus automotive growth of 56%. IoT revenue fell 9%, reflecting unfavorable product mix. QTL (licensing) revenue rose 5% to $5.6 billion, and segment EBT margin improved to 72%. Gross margin was flat at 56%, and R&D fell as a share of revenue to 23%. Operating income rose 29% to $10.1 billion, and investment income increased sharply on higher interest rates and gains on strategic investments.

Nov 6, 2024 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Nov 6, 2024)

Qualcomm reported fiscal Q4 and full-year 2024 results (fiscal year ended September 29, 2024). GAAP revenue for fiscal 2024 was $38.96 billion, up 9% year over year, and GAAP diluted EPS was $8.97, up 40%. Non-GAAP diluted EPS was $10.22, up 21%, which the company describes as more than 20% growth in fiscal-year EPS. Q4 revenue reached $10.24 billion (up 19% GAAP), with GAAP diluted EPS of $2.59 (up 96%) and non-GAAP EPS of $2.69 (up 33%). The gap between GAAP and non-GAAP EPS narrows materially in the current year because of large share-based compensation and other excluded items, so investors should weigh both measures. The QCT (chipmaking) segment drove growth. Fiscal 2024 QCT revenue was $33.2 billion (up 9%), with EBT margin improving to 29%. Automotive revenue rose 55% for the year and 68% in Q4, marking a fifth consecutive record quarter, and Handsets grew 10%. IoT revenue fell 9% for the year despite a 22% rebound in Q4. QTL (licensing) revenue grew 5% to $5.6 billion, with segment EBT margin rising to 72%. Fiscal 2024 operating cash flow was a record $12.2 billion, versus $11.3 billion in fiscal 2023. Capital returns totaled $7.8 billion, including $4.1 billion in buybacks and $3.7 billion in dividends. The Board approved a new $15.0 billion repurchase authorization with no expiration date, in addition to $1.0 billion remaining under the 2021 program. Total debt stood at about $14.6 billion at year end, down from $15.4 billion, and cash plus marketable securities was $13.3 billion. The company also flagged a first-quarter fiscal 2025 EPS headwind tied to capitalizing R&D costs for U.S. tax purposes, and it plans an Investor Day on November 19 to update its growth and diversification strategy. Management's commentary is qualitative, and this 8-K furnishes results only, without new quantitative guidance beyond the press release.

Nov 6, 2024 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Oct 9, 2024)

Qualcomm Incorporated announced a significant addition to its Board of Directors with the election of Marie Myers, the current Executive Vice President and Chief Financial Officer of Hewlett Packard Enterprise Company. Ms. Myers' appointment, effective October 8, 2024, brings her extensive financial and executive leadership experience to Qualcomm's strategic oversight. Her election to the Board and subsequent appointment to the Audit Committee are aimed at further strengthening the company's governance and financial scrutiny capabilities.

Oct 9, 2024 8-K

QUALCOMM INC/DE 8-K Report, Material Agreement (Aug 9, 2024)

QUALCOMM Incorporated (QCOM) announced on August 8, 2024, the execution of a new $4.0 billion senior unsecured revolving credit facility. This facility replaces its prior credit agreement and matures in August 2029. The new credit line offers flexibility for general corporate purposes, including working capital and capital expenditures, and can be drawn in various currencies. This refinancing demonstrates QCOM's proactive approach to managing its liquidity and financial flexibility. While the company has not drawn on the facility as of the filing date, its availability provides a strong backstop for operational needs and strategic initiatives. The terms are largely customary, with interest rates tied to SOFR or a Base Rate plus an initial margin, and a facility fee that will adjust based on the company's credit ratings. Importantly, the agreement includes covenants that require QCOM to maintain a minimum interest coverage ratio, ensuring a degree of financial discipline.

Aug 9, 2024 10-Q

QUALCOMM INC/DE Quarterly Report for Q3 Ended Jun 23, 2024

QUALCOMM Inc./DE (QCOM) reported a strong third quarter for fiscal year 2024, with total revenues increasing by 11% year-over-year to $9.39 billion and net income rising by 18% to $2.13 billion. This growth was primarily driven by a robust performance in the QCT (Qualcomm CDMA Technologies) segment, which saw a 12% revenue increase, bolstered by higher handset and automotive revenues. The QTL (Qualcomm Technology Licensing) segment also contributed positively with a 3% revenue increase. Despite global economic uncertainties and intense competition, QUALCOMM demonstrated solid operational execution. The company's balance sheet remains strong, with total assets of $52.74 billion and total stockholders' equity of $24.67 billion as of June 23, 2024. The company continued its capital return program, repurchasing shares and paying dividends, indicating confidence in its financial health and future prospects. Investors should note the ongoing legal proceedings and risk factors disclosed, particularly those related to supply chain dependencies, geopolitical tensions, and competition, which are critical considerations for evaluating the company's long-term outlook.

Jul 31, 2024 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Jul 31, 2024)

Qualcomm (QCOM) reported fiscal Q3 2024 results (quarter ended June 23, 2024) with GAAP revenue of $9.39 billion, up 11% year over year, and GAAP diluted EPS of $1.88, up 18%. Non-GAAP diluted EPS was $2.33, up 25%. Non-GAAP EBT rose 25% to $3.03 billion, and GAAP EBT rose 30% to $2.28 billion. The quarter's results were driven by the QCT (chip) segment, where revenue grew 12% to $8.07 billion and segment EBT margin expanded to 27% from 24%. Automotive revenue was the standout, up 87% to $811 million. Handsets grew 12%, while IoT declined 8%. The QTL licensing segment grew revenue 3% to $1.27 billion, with EBT margin of 70%. Management highlighted the launch of the Snapdragon X Series PC processors and framed the quarter as progress in the company's shift from a communications company toward an intelligent computing company. Qualcomm returned $2.3 billion to shareholders in the quarter, including $949 million in dividends and $1.3 billion in buybacks of 7 million shares. Balance sheet changes were modest: total cash and marketable securities were about $13.0 billion, total debt was about $14.6 billion, and stockholders' equity rose to $24.7 billion, largely from retained earnings growth. The filing is a Form 8-K Item 2.02 disclosure furnishing the earnings press release. It contains no new guidance beyond the press release's business outlook, which was not fully reproduced in the excerpt provided. Investors should note that the GAAP-to-non-GAAP gap is significant this quarter, mainly due to share-based compensation of $644 million and a $75 million securities class action settlement charge. Dependence on premium-tier smartphones, China exposure, and customer vertical integration remain the key risk factors the company cited.

Jul 31, 2024 8-K

QUALCOMM INC/DE 8-K Report, Regulation FD Disclosure (May 9, 2024)

Qualcomm Incorporated (QCOM) has announced a material event impacting its relationship with Huawei. On May 7, 2024, the U.S. Department of Commerce revoked Qualcomm's license to export 4G and certain other integrated circuit products, including Wi-Fi components, to Huawei Device Co., Ltd. and its affiliates, effective immediately. This action preempts Qualcomm's prior expectation of not receiving product revenues from Huawei beyond the current calendar year, effectively accelerating the cessation of these sales. Despite this significant regulatory development and the immediate cessation of exports, Qualcomm has stated that it is not changing its financial guidance for the third quarter of fiscal year 2024. This suggests that the revenue impact from Huawei was already factored into their forward-looking statements to a degree that does not necessitate an update to their guidance. Investors should monitor future filings for any long-term implications or adjustments to guidance as the company navigates this change and potential broader geopolitical influences on its business.

May 9, 2024 10-Q

QUALCOMM INC/DE Quarterly Report for Q2 Ended Mar 24, 2024

QUALCOMM's fiscal Q2 2024 10-Q (quarter ended March 24, 2024) shows a company that grew modestly on the top line while earnings improved sharply. Total revenues were $9.39 billion, up 1% year over year, driven by QCT equipment and services (up $98 million in the quarter on higher automotive and handset revenue, partly offset by weaker IoT). QTL licensing revenue rose 2% to $1.44 billion. Net income rose 37% to $2.33 billion, helped by a $346 million swing in investment and other income, mainly net gains on QSI non-marketable equity investments and higher interest income, and by lower R&D and restructuring-related costs. Operating income was $2.34 billion, up 12%. For the first six months, revenue was $19.3 billion (up 3%) and net income was $5.09 billion (up 29%). Cash generation and capital returns remained the focus. Operating cash flow for the six months was $6.5 billion, up from $4.6 billion, though it was depressed by about $1.8 billion of income taxes paid above provision, including a $1.0 billion postponed federal payment. Cash, equivalents and marketable securities rose to $13.9 billion, against $15.5 billion of debt. The company returned $1.8 billion in dividends and $1.5 billion in buybacks in the six months, and it raised the quarterly dividend to $0.85 from $0.80. About $3.6 billion remained under the repurchase authorization. Management continues to flag headwinds. IoT customers are still drawing down elevated inventory, Huawei is not expected to generate product revenue beyond the current calendar year, and U.S./China trade and national security tensions remain a material risk given China revenue concentration. The licensing business also faces ongoing legal exposure, including the consolidated consumer and securities class actions and the Arm dispute, with trial dates in late 2024 and no accrual recorded. Negotiations with key OEMs, including Huawei, continue ahead of agreements expiring in early fiscal 2025.

May 1, 2024 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (May 1, 2024)

QUALCOMM reported fiscal Q2 2024 (quarter ended March 24, 2024) with GAAP revenue of $9.39 billion, up 1% year over year, and GAAP diluted EPS of $2.06, up 36%. Non-GAAP EPS was $2.44, up 13%. GAAP earnings were boosted by $273 million in net gains on marketable securities and other investments, and the quarter's GAAP EBT margin of 27% compares with a non-GAAP EBT margin of 34%. Growth was modest at the top line but stronger in profitability. QCT (chip) revenue rose 1% to $8.03 billion, and QCT Automotive revenue grew 35% to $603 million, the third consecutive quarterly record. QCT IoT revenue fell 11%, and handset revenue rose only 1%. QTL (licensing) revenue increased 2% to $1.32 billion, with segment EBT margin expanding to 71%. The company returned $1.6 billion to shareholders in the quarter, including $895 million in dividends and $731 million in repurchases of 5 million shares. Management announced an increase in the quarterly cash dividend to an annualized payout of $3.40 per share and cited an automotive design win pipeline of roughly $45 billion. Balance sheet and cash flow data show cash and equivalents of $9.2 billion and marketable securities of $4.6 billion against long-term debt of $14.5 billion, and six-month operating cash flow of $6.5 billion. Investors should weigh the strong EPS and automotive momentum against slow handset and IoT growth, China and customer concentration risks, and a sizable tax benefit from R&D capitalization that flatters GAAP results. This 8-K furnishes the earnings press release under Item 2.02 and is not itself a financial statement. Forward-looking guidance and the detailed outlook appear in the exhibit, and some of the outlook text in the excerpt is truncated.

May 1, 2024 8-K

QUALCOMM INC/DE 8-K Report, Shareholder Vote Results (Mar 7, 2024)

Qualcomm Incorporated (QCOM) filed an 8-K report detailing the results of its 2024 Annual Meeting of Stockholders held on March 5, 2024. The report indicates that all six proposals presented to shareholders were approved. Key among these approvals were the election of all director nominees, the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2024, and the advisory approval of executive compensation. Of particular note for long-term investors are the approvals related to equity compensation and governance. The stockholders approved an amendment to the 2023 Long-Term Incentive Plan, which includes an increase in the share reserve by 15 million shares, signaling continued reliance on stock-based compensation to incentivize management and employees. Furthermore, two significant amendments to the company's foundational documents were passed: one to the Certificate of Incorporation to align with new Delaware law provisions for officer exculpation, and another to the Bylaws to mandate that claims under the Securities Act be brought in federal court. These governance changes aim to enhance legal protections and streamline legal proceedings.

Mar 7, 2024 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Jan 31, 2024)

Qualcomm (QCOM) reported fiscal Q1 2024 results (quarter ended December 24, 2023) that beat the high end of its guidance range on both revenue and EPS. GAAP revenue was $9.935 billion, up 5% year over year, and GAAP diluted EPS was $2.46, up 24%. Non-GAAP revenue was $9.922 billion (+5%) and non-GAAP diluted EPS was $2.75 (+16%). Growth was led by the QCT semiconductor segment, where revenue rose 7% to $8.423 billion and EBT margin expanded to 31% from 28%. Handsets grew 16% and Automotive grew 31% to a record quarterly level, partly offset by a 32% decline in IoT revenue. QTL licensing revenue fell 4% to $1.460 billion. Profitability improved meaningfully. GAAP operating income rose about 19% to $2.928 billion, and GAAP net income rose 24% to $2.767 billion. The company also benefited from a sharp drop in cash taxes relative to tax expense. Operating cash flow was $2.949 billion, versus $3.095 billion a year earlier, and capital expenditures fell to $214 million. Shareholder returns totaled $1.7 billion, including $895 million in dividends ($0.80 per share) and $784 million in buybacks of 6 million shares. Cash and cash equivalents fell to $8.1 billion, while total debt of about $15.5 billion was largely unchanged. Management's forward-looking guidance, including the Q2 EPS outlook, was included in the press release but is not reproduced in the excerpt provided. Investors should note that the GAAP-to-non-GAAP gap is driven partly by a $147 million tax benefit tied to the capitalization of R&D expenditures, a temporary item.

Jan 31, 2024 10-Q

QUALCOMM INC/DE Quarterly Report for Q1 Ended Dec 24, 2023

Qualcomm Inc. reported strong results for the first quarter of fiscal year 2024, with total revenues of $9.9 billion, up 5% year-over-year, and net income of $2.8 billion, a substantial 24% increase. This growth was primarily driven by a 7% rise in QCT (Qualcomm CDMA Technologies) revenues, fueled by higher handset and automotive sales, despite a slight decrease in IoT revenue. The QCT segment saw improved handset performance due to normalization of customer inventory levels and accelerated device launches. Additionally, Automotive revenues experienced a notable increase. The QTL (Qualcomm Technology Licensing) segment experienced a 4% decrease in revenue, largely attributed to the conclusion of upfront license fee recognition from a prior agreement with Nokia. However, the segment's Earnings Before Taxes (EBT) margin remained strong at 74%. The company continues to manage its expenses effectively, with a notable decrease in R&D spending due to restructuring actions, contributing to the overall increase in profitability. Qualcomm also highlighted its ongoing commitment to returning capital to shareholders through dividends and share repurchases, with $4.4 billion remaining authorization under its current repurchase program.

Jan 31, 2024 8-K

QUALCOMM INC/DE 8-K Report, Executive Changes (Jan 23, 2024)

Qualcomm Incorporated (QCOM) announced a significant internal leadership change through an 8-K filing on January 22, 2024. Akash Palkhiwala, who has served as the Chief Financial Officer (CFO) since November 2019, has been appointed to concurrently serve as the Chief Operating Officer (COO). This dual role means Mr. Palkhiwala will now oversee not only financial operations but also the global go-to-market organization and overall operations of the company. This appointment, effective immediately, reflects a strategic move by the Board of Directors to consolidate key operational and financial leadership under one executive. In conjunction with this promotion, Mr. Palkhiwala will receive an adjusted compensation package, including a $150,000 annual base salary increase and equity awards valued at $3,000,000, underscoring the company's confidence in his expanded responsibilities. Investors should view this as a sign of strong leadership continuity and potentially a push for greater operational efficiency and market execution.

Jan 23, 2024 10-K

QUALCOMM INC/DE Annual Report, Year Ended Sep 24, 2023

QUALCOMM's fiscal 2023 10-K (year ended September 24, 2023) shows a sharp earnings downturn driven by a weak smartphone market and customer inventory drawdowns. Revenue fell 19% to $35.8 billion from $44.2 billion, and net income fell 44% to $7.2 billion from $12.9 billion. QCT (semiconductor) revenue dropped 19% to $30.4 billion, mainly from $7.9 billion lower chipset shipments to major OEMs, while QTL (licensing) revenue fell 17% to $5.3 billion. Gross margin compressed to 56% from 58%, and operating income dropped roughly 51% to $7.8 billion. Restructuring charges of $712 million and a $150 million IPR&D impairment, along with an unusually low 1% effective tax rate from FDII deductions, partly shaped the bottom line. The balance sheet and cash flow picture is more resilient. Operating cash flow rose to $11.3 billion, cash and marketable securities increased to $11.3 billion from $6.4 billion, and total debt was about $15.4 billion. Management returned $6.4 billion to shareholders through $3.0 billion in buybacks and $3.5 billion in dividends. Management expects consumer smartphone demand to decline again in calendar 2023 and warns that customer vertical integration (notably Apple and Samsung, and Chinese OEMs), U.S./China tensions, and the cash tax impact of R&D capitalization will weigh on results. For investors, the central questions are how quickly handset demand and customer inventories normalize, whether diversification into automotive and IoT can offset premium handset volatility, and whether licensing revenue holds up amid litigation and royalty challenges. Automotive revenue grew 24% to $1.9 billion, a bright spot, but IoT declined 19%, and the company's concentration in a few large customers remains a significant risk.

Nov 1, 2023 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Nov 1, 2023)

Qualcomm (QCOM) reported fiscal Q4 and full-year 2023 results for the period ended September 24, 2023, with fiscal 2023 revenue of $35.8 billion, down 19% from $44.2 billion, and GAAP EPS of $6.42 (down 44%) versus non-GAAP EPS of $8.43 (down 33%). Q4 revenue fell 24% year over year to $8.6 billion (GAAP), with GAAP diluted EPS of $1.32. Management highlighted that quarterly revenue exceeded the midpoint of guidance and that QCT Automotive reached record quarterly and fiscal-year revenue ($535 million in Q4, $1.87 billion for the year, up 15% and 24%). The decline was driven mainly by weakness in handsets, where QCT handset revenue fell 22% for the year, and IoT, which fell 19%. Licensing (QTL) revenue declined 17% for the year, reflecting weaker licensing revenue and a portion of a business arrangement resolving a legal dispute. Profitability compressed sharply. GAAP fiscal 2023 EBT fell 50% to $7.4 billion, including $723 million of restructuring charges, while non-GAAP EBT fell 33% to $11.1 billion. QCT's EBT margin dropped to 26% from 34%, and QTL's margin fell to 68% from 73%. The balance sheet strengthened over the year: cash and equivalents rose to $8.45 billion from $2.77 billion, operating cash flow reached $11.3 billion (up from $9.1 billion), and free cash flow was roughly $9.8 billion after $1.45 billion in capex. The company returned $6.4 billion to stockholders in fiscal 2023 through $3.0 billion in buybacks and $3.5 billion in dividends. Long-term debt increased to $14.5 billion. This 8-K is a furnished Item 2.02 filing, so the press release is not filed as part of the Exchange Act report. The release includes a fiscal 2024 outlook (summarized in a section not fully reproduced in the excerpt) and notes that the first-quarter guidance for other items reflects tax benefits from capitalized R&D. Investors should weigh the revenue decline and margin compression against the company's strong cash generation, its growth in automotive, and its positioning in on-device generative AI.

Nov 1, 2023 10-Q

QUALCOMM INC/DE Quarterly Report for Q3 Ended Jun 25, 2023

QUALCOMM Incorporated (QCOM) reported a notable decrease in revenues and net income for the third quarter of fiscal year 2023 compared to the prior year. Total revenues were $8.5 billion, down 23%, while net income fell by 52% to $1.8 billion. This downturn was primarily attributed to a challenging macroeconomic environment impacting consumer demand for smartphones and other devices, coupled with customers reducing their elevated inventory levels. Despite the revenue decline, the company maintained a strong cash position, with cash, cash equivalents, and marketable securities totaling $8.6 billion. QCOM also returned capital to shareholders through dividends and stock repurchases. The company continues to invest in its key growth areas, particularly in automotive and IoT, anticipating long-term growth driven by 5G technology and increased integration into non-mobile applications. However, ongoing macroeconomic headwinds and inventory destocking by customers are expected to continue impacting near-term financial performance.

Aug 2, 2023 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Aug 2, 2023)

QUALCOMM's fiscal Q3 2023 results (quarter ended June 25, 2023) show a sharp year-over-year decline. GAAP revenue fell 23% to $8.45 billion and GAAP diluted EPS fell 51% to $1.60, against $3.29 a year earlier. Non-GAAP revenue was $8.44 billion and non-GAAP EPS was $1.87, down 37% from $2.96. Management noted that non-GAAP EPS exceeded the midpoint of its guidance range. The prior-year GAAP figures included a $1.1 billion (about $0.94 per share) benefit from reversing an accrued European Commission fine, which flatters the comparison base and makes the GAAP decline look worse than the underlying trend. By segment, QCT (semiconductors) revenue fell 24% to $7.17 billion, with handsets down 25% and IoT down 24%, while automotive grew 13% to $434 million, extending a run of double-digit growth. QCT EBT margin compressed to 24% from 32%. QTL (licensing) revenue fell 19% to $1.23 billion, and its EBT margin declined to 66% from 71%. Cash generation held up better than earnings: operating cash flow was $2.66 billion for the quarter, and cash and equivalents rose to $6.09 billion from $2.77 billion at fiscal year-end 2022. Long-term debt increased to $14.53 billion, and the company returned $1.3 billion to stockholders in the quarter through $893 million in dividends and $400 million in buybacks. The filing's forward-looking language points to weak handset unit demand and channel inventory drawdown as near-term headwinds, while management emphasized on-device AI as a potential long-term growth driver. Investors should weigh the earnings contraction and handset exposure against the automotive and IoT growth, and the company's continued capital returns and cash position. The filing also flags concentration risks, including dependence on premium-tier handsets and China.

Aug 2, 2023 8-K

QUALCOMM INC/DE 8-K Report, Bylaw Amendment (Jul 21, 2023)

QUALCOMM Incorporated (QCOM) filed an 8-K on July 20, 2023, to report on amendments to its Bylaws, effective July 18, 2023. The most significant changes relate to the procedural mechanics and disclosure requirements for director nominations submitted by stockholders. These updates are primarily driven by the implementation of Rule 14a-19 under the Securities Exchange Act of 1934, which mandates the use of 'universal' proxy cards in contested director elections. These amendments require stockholders seeking to nominate directors to provide specific representations about their solicitation activities, submit questionnaires, and adhere to updated notification protocols regarding any changes in their intentions. The changes also clarify the treatment of stockholder votes in cases involving disqualified or withdrawn nominees and update procedures for stockholder lists in accordance with recent changes to Delaware General Corporation Law. Investors should note that these changes are technical in nature, aimed at ensuring compliance and streamlining processes related to corporate governance and shareholder engagement.

Jul 21, 2023 10-Q

QUALCOMM INC/DE Quarterly Report for Q2 Ended Mar 26, 2023

Qualcomm Inc. reported revenues of $9.275 billion for the second quarter of fiscal year 2023, a decrease of 17% year-over-year, driven by a challenging macroeconomic environment impacting consumer demand and customers drawing down inventory. Net income also saw a significant decline of 42% to $1.704 billion. The company experienced a notable decrease in both its Equipment and Services (QCT) and Licensing (QTL) segments, with QCT revenues down 17% and QTL down 18% compared to the prior year's quarter. Despite the revenue decline, Qualcomm continues to invest heavily in Research and Development, with R&D expenses increasing by $176 million for the six-month period ended March 26, 2023. The company also announced a 7% increase in its quarterly dividend and continues to execute its stock repurchase program, returning capital to shareholders. Management anticipates that macroeconomic challenges and inventory drawdown will persist in the near term, impacting revenues and cash flows.

May 3, 2023 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (May 3, 2023)

QUALCOMM reported fiscal Q2 2023 (quarter ended March 26, 2023) revenue of $9.3 billion, down 17% year over year from $11.2 billion, with GAAP diluted EPS of $1.52 (down 41%) and non-GAAP diluted EPS of $2.15 (down 33%). The decline was driven mainly by the handset business: QCT handset revenue fell 17% to $6.1 billion and IoT fell 24% to $1.4 billion, partially offset by 20% growth in automotive to $447 million. QTL licensing revenue fell 18% to $1.29 billion, and QCT segment EBT margin compressed from 35% to 27%. GAAP results were also affected by $212 million of restructuring charges and a $288 million "Other" expense line in the six-month period, which was not present in the prior year. Capital returns remained significant: the company returned $1.7 billion to stockholders in the quarter, including $834 million in dividends ($0.75 per share) and $903 million in buybacks of roughly 7 million shares. The quarterly dividend was increased 7% to a $3.20 annualized payout. Cash from operations was $1.46 billion for the quarter, and net cash from operations for the six months was $4.55 billion. Total debt rose meaningfully, with long-term debt increasing to $15.5 billion from $13.5 billion while short-term debt fell to $499 million from $1.9 billion, and cash plus marketable securities totaled about $6.7 billion. The filing itself is a Form 8-K furnishing the earnings press release under Item 2.02, so it contains no new forward commitments beyond the press release's business outlook, which the excerpt does not fully reproduce. Management attributed the downturn to a challenging environment, with risk factors highlighted including dependence on a few large customers, a modem-only handset customer's purchase timing, OEM inventory drawdown, and China exposure. Investors should weigh the near-term earnings contraction and elevated restructuring costs against the company's continued dividend growth, buybacks, and diversification into automotive and IoT.

May 3, 2023 8-K

QUALCOMM INC/DE 8-K Report, Shareholder Vote Results (Mar 9, 2023)

QUALCOMM Incorporated (QCOM) filed an 8-K on March 8, 2023, reporting the results of its 2023 Annual Meeting of Stockholders held on March 8, 2023. The meeting addressed four key proposals, all of which were approved by shareholders. Notably, all director nominees were elected with strong affirmative votes, and the company's selection of PricewaterhouseCoopers LLP as its independent registered public accounting firm for the fiscal year ending September 24, 2023, was ratified. Furthermore, shareholders approved the QUALCOMM Incorporated 2023 Long-Term Incentive Plan, indicating support for management's strategy to incentivize and retain key talent. The compensation of named executive officers was also approved on an advisory basis, reflecting shareholder confidence in the company's executive compensation practices. Overall, the meeting's outcomes suggest a high level of shareholder alignment with the company's governance and strategic direction.

Mar 9, 2023 8-K

QUALCOMM INC/DE 8-K Report, Financial Results (Feb 2, 2023)

Qualcomm reported fiscal Q1 2023 (quarter ended December 25, 2022) results that declined sharply year over year, though they were consistent with the company's prior guidance. GAAP revenue fell 12% to $9.46 billion and GAAP diluted EPS fell 34% to $1.98. Non-GAAP diluted EPS was $2.37, down 27%, and management said it landed above the midpoint of its guidance range. GAAP operating income fell 36% to $2.47 billion, driven mainly by a 18% decline in handset revenue and higher R&D spending, which rose 17% to $2.25 billion. Licensing (QTL) revenue fell 16% to $1.52 billion. The quarter had some bright spots in the diversification strategy. QCT Automotive revenue grew 58% to $456 million, and QCT IoT revenue grew 7% to $1.68 billion. Operating cash flow improved to $3.10 billion from $2.06 billion, helped by a large reduction in accounts receivable, though inventories rose to $6.93 billion. Cash and equivalents increased to $4.81 billion, while long-term debt rose to $15.43 billion after $1.88 billion of new long-term borrowing. Capital returns remained substantial at $2.1 billion in the quarter, including $842 million of dividends ($0.75 per share) and $1.3 billion of share repurchases (11 million shares). The GAAP results include $84 million of restructuring-related charges and $68 million of other acquisition-related charges, which the company excludes from non-GAAP results. The excerpt provided does not include the numeric second-quarter outlook, so investors should consult the full press release for guidance.

Feb 2, 2023