Qualcomm's revenue for the year increased by 62%

Qualcomm's revenue for the year increased by 62%
Qualcomm's revenue for the reporting period was $ 8.235 billion. This is 62% more than the figure for the first quarter of fiscal year 2020, equal to $ 5.077 billion. Profit before taxes for the year increased from $ 947 million to $ 2.604 billion, or 175%. Net income for the same period increased from $ 925 million to $ 2.455 billion, or 165%.

According to the company's management, the strong demand for smartphones with 5G support, as well as the success in the segments of the element base for the Internet of Things and automotive electronics, contributed to the good results in the last quarter.

During the quarter, the company paid $ 1.2 billion to shareholders. At the same time, $ 739 million was paid in the form of dividends, and $ 444 million in the form of share repurchases. The company's assets at the end of the quarter were estimated at $ 33.111 billion, of which cash and cash equivalents accounted for $ 11.109 billion.
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