Qualcomm Inc. announced Q4 FY16 consolidated sales of $6.2 bn with Q4 FY16 net profit of $1.6 bn, resulting in a net profit margin of 26%. Both sales and net profit were significantly higher than last year’s Q4 figures of $5.5bn and $1.1 bn, by 13% and 45% respectively.
However, the financial results were not as positive while comparing complete FY15 and FY16 figures, as FY16 sales of $23.5 bn declined by 7% from FY15 sales of $25.3 bn. The FY16 net profit of $6.7 bn also fell by 13% from last year’s $7.6 bn.
The management indicated that Q4 FY16 results were much higher than its expectations, reflecting the impact of new licence agreements in China and strong chipset shipments. The company forecasts continued growth of global 3G/4G device shipments in 2017, led by growing demand in emerging regions and in the mobile technology space given it’s recently announced agreement to acquire NXP.