Qualcomm announced earlierFiscal Year 2022 Third Quarter Financial Results, with revenue reaching US$109.28 billion, a 37% year-on-year increase, and net profit reaching US$37.3 billion, an 84% increase. The largest source of profit remained mobile phone-related chip products, accounting for approximately US$61.49 billion, a 59% increase year-on-year. Other products, such as the smart connected device chip business, accounted for approximately US$18.33 billion in revenue, a 31% increase. The wireless RF front-end chip business accounted for US$10.46 billion in revenue, a 9% increase. Automotive chips accounted for approximately US$3.5 million in revenue, a 38% increase.
Although the mobile phone-related chip business is still experiencing significant growth, Qualcomm expects that the mobile phone business revenue may slow down in the fourth quarter financial report this year. This may include factors such as the decrease in demand for replacement phones in the third quarter, the transition period waiting for the arrival of new processors, and the Ukraine-Russia war, which has led to the suspension of smartphone shipments to Russia by many brands. All of these factors may affect the overall sales performance of the mobile phone market in the next third quarter.
In addition to revenue from mobile phone-related chip business, technology licensing business remains an important source of revenue for Qualcomm. In the last quarter, revenue accounted for US$15.2 billion, an increase of 2% compared with the same period last year. Although the growth rate is not large, it has become a stable revenue project for Qualcomm.
Looking at the overall situation, Qualcomm CEO Cristiano Amon believes that although the market faces many challenges, the company's business development continues to grow. He also expects fourth-quarter financial revenue to be between US$110 billion and US$118 billion.
In addition, Qualcomm announced that it will continue to maintain a technology patent licensing cooperation with Samsung. The cooperation period of the agreement between the two parties will be extended to 2030, which includes the provision of Snapdragon series processors and corresponding patent licenses so that they can be used in Samsung's Galaxy brand mobile phones, tablets, and PC devices.
