Qualcomm Incorporated (NASDAQ: QCOM) has released its second-quarter report for the fiscal year 2022. The stock surpassed Wall Street projections by a wide margin, and its stellar performance was one of the driving forces behind the tech sector’s rally on April 28.
Qualcomm’s sales increased 41% year over year to a new high of $11.2 billion, with GAAP earnings of $2.57 per share. The corporation paid out $1.7 billion in dividends to stockholders, including $0.8 billion in dividends.
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Despite transitory supply chain difficulties, Qualcomm’s business remains robust and healthy. Sales are increasing in all main areas, and revenue is expected to increase by roughly 50% by 2022. Qualcomm (QCOM) expects a profit increase of 48 percent to $2.75-$2.95 for the entire year.
The continuous rise in revenues in the automotive chip market is a favorable indicator of Qualcomm’s long-term prospects. Last quarter, the firm raked in $339 million, putting it on course to become a top provider of vehicle central computer units.
Qualcomm estimates sales in its biggest CDMA business (encompassing mobile technologies and cellular networks) to be in the range of $10.5 to $11.3 billion in the current quarter, representing a 35 percent increase.
The continued strong demand for low-power, wireless high-performance computing modules is a key driver of Qualcomm’s sales growth. Electronics are becoming more saturated in many industries, and manufacturers are seeking creative methods to provide new functions while keeping prices and operating expenses low. In the future decades, this tendency is unlikely to reverse. As a result, QCOM stock remains a long-term investment option for many investors.
The stock of QUALCOMM Incorporated (NASDAQ: QCOM) has risen 8.88 percent in the last week but has fallen -8.07 percent in the previous quarter. Going back further, the stock’s price has increased by more than 12.95 percent in the previous six months but is down -18.96 percent year-to-date.
