Qualcomm Shares Up After Financial Results for Second Quarter of Fiscal 2022

Apr 28, 2022 By MarketDepth

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Qualcomm Incorporated (NASDAQ: QCOM) shares jumped more than 6% after the communication company announced financial results for its second quarter of fiscal 2022. 

Headset Volume Increasing

According to the Company, revenue in the headsets segment is on track to grow >50% YoY in FY22, and Increased premium tier processor volume for Samsung’s Galaxy S22 smartphones to ~75%, up from ~40% in the Galaxy S21. 

AI Integration Popular

In the RF front-end segment, Qualcomm’s 5th generation Modem-RF System now implements advanced features such as AI integration, millimeter wave and sub6 dual connectivity, and 5G sub-6 carrier aggregation with FDD and TDD spectrum.

“We are pleased to announce another quarter of record revenues, reflecting the successful execution of our growth and diversification strategy and strong demand for our wireless and high-performance, low-power processor technologies across multiple industries. We are well positioned to meet our long-term targets and enable the connected intelligent edge.”

Cristiano Amon, President and CEO of Qualcomm Incorporated