(Qualcomm) Qualcomm Incorporated reported a net income of $2.934 billion in the second quarter of 2022, an increase of 67% from the previous year.
The company’s revenue hit a record $11.164 billion in the first quarter, an increase of 41% from the previous year. QCT revenue grew 52% to $9.55 billion.
Qualcomm said it returned $1.7 billion to its shareholders in the second quarter, including $764 million in dividends, and $951 million in share buybacks.
Qualcomm now expects its revenue to range between $10.5 billion and $11.3 billion in the third quarter. QCT revenues are expected at between $9.1 billion and $9.6 billion, while QTL revenues are projected at between $1.4 billion and $1.6 billion.
The company’s GAAP diluted earnings per share is expected at between $2.35 and $2.55 in the third quarter, down from the previous $2.57.
QCOM: NASDAQ is up +8.20% on premarket.
