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5G

Qualcomm sees flat revenue ahead

SAN DIEGO – Qualcomm today announced results for its fiscal second quarter ended March 29, 2020.

"We executed extremely well in the second fiscal quarter, with strong Non-GAAP results in line with our guidance, demonstrating the strength of our business model and the resilience of our team to respond quickly to the unique challenges presented by the global pandemic,” said Steve Mollenkopf, CEO of Qualcomm Incorporated.

Our second quarter fiscal 2020 GAAP and Non-GAAP results were negatively impacted by the global coronavirus (COVID-19) pandemic, which caused a reduction in demand of 3G/4G/5G handsets of approximately 21% compared to our prior expectation and on a year-over-year basis.

In addition, our GAAP results were also negatively impacted by $265 million, or ($0.21) per share, in non-marketable investment impairments, resulting in part from the impacts of COVID-19.

Qualcomm

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