Qualcomm Inc. reported its financial results for the first quarter of 2018. Q1 revenue was $6.1 billion, up 1% compared to $6.0 billion reported in Q1 of 2017. Qualcomm didn’t record any QTL (Qualcomm Technology Licensing) revenues in the first quarter of fiscal 2018 or fourth quarter of fiscal 2017 for royalties due on sales of Apple’s or the other licensee’s products. The company said “Our fiscal first quarter results reflect continued strong performance in our semiconductor business, as well as continued strength in 3G/4G handset ASPs”.
Net loss in the quarter was $6.0 billion, compared to a net income of $0.7 billion reported in Q1 of 2017. Net loss in the quarter was due to $6.0 billion charge relating to the enactment of the Tax Cuts and Jobs Act in U.S and a $1.2 billion charge for a fine imposed by the European Commission (EC). (Qualcomm fined €997 for Apple Exclusivity Deal)