Qualcomm FQ4 2022 results mixed, co guides Q1 revenue below consensus
G0d4ather


Qualcomm (NASDAQ:QCOM): FQ4 Non-GAAP EPS of $3.13 in-line.
Revenue of $11.4B (+22.1% Y/Y)  beats by $40M.
"Given the uncertainty caused by the macroeconomic environment, we are updating our guidance for calendar year 2022 3G/4G/5G handset volumes from a year-over-year mid-single-digit percentage decline, to a low double-digit percentage decline."

"The rapid deterioration in demand and easing of supply constraints across the semiconductor industry have resulted in elevated channel inventory. Due to these elevated levels, our largest customers are now drawing down on their inventory, negatively impacting the mid-point of our EPS guidance for the first quarter of fiscal 2023 by approximately ($0.80)."
Co sees Q1 FY2023 revenue of $9.2B-$10B, versus consensus revenue estimate of $12.05B.
Sees Q1 QCT revenue of $7.7B-$8.3B, QTL revenue of $1.45B-$1.65B.
QCOM expects Q1 GAAP EPS of $1.72-$1.92, non-GAAP EPS of $2.25-$2.45. The consensus EPS estimate is $3.43.
Press release
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