Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Qualcomm Inc., consolidated income statement

US$ in millions

12 months ended:	Sep 29, 2024	Sep 24, 2023	Sep 25, 2022	Sep 26, 2021	Sep 27, 2020	Sep 29, 2019
Equipment and services	32,791)	30,028)	37,171)	26,741)	16,298)	14,611)
Licensing	6,171)	5,792)	7,029)	6,825)	7,233)	9,662)
Revenues	38,962)	35,820)	44,200)	33,566)	23,531)	24,273)
Cost of revenues	(17,060)	(15,869)	(18,635)	(14,262)	(9,255)	(8,599)
Gross profit	21,902)	19,951)	25,565)	19,304)	14,276)	15,674)
Research and development	(8,893)	(8,818)	(8,194)	(7,176)	(5,975)	(5,398)
Selling, general and administrative	(2,759)	(2,483)	(2,570)	(2,339)	(2,074)	(2,195)
Other	(179)	(862)	1,059)	—)	28)	(414)
Operating income	10,071)	7,788)	15,860)	9,789)	6,255)	7,667)
Interest expense	(697)	(694)	(490)	(559)	(602)	(627)
Interest and dividend income	675)	313)	91)	83)	156)	300)
Net gains (losses) on marketable securities	14)	75)	(363)	427)	198)	295)
Net gains on other investments	175)	21)	113)	470)	108)	68)
Net gains (losses) on deferred compensation plan assets	198)	86)	(141)	130)	47)	9)
Impairment losses on other investments	(79)	(132)	(47)	(33)	(405)	(135)
Other	(21)	(14)	(25)	(33)	(38)	(96)
Investment and other income (expense), net	962)	349)	(372)	1,044)	66)	441)
Income from continuing operations before income taxes	10,336)	7,443)	14,998)	10,274)	5,719)	7,481)
Income tax expense	(226)	(104)	(2,012)	(1,231)	(521)	(3,095)
Income from continuing operations	10,110)	7,339)	12,986)	9,043)	5,198)	4,386)
Discontinued operations, net of income taxes	32)	(107)	(50)	—)	—)	—)
Net income	10,142)	7,232)	12,936)	9,043)	5,198)	4,386)

Based on: 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Qualcomm Inc. revenues decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Qualcomm Inc. operating income decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Income from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Qualcomm Inc. income from continuing operations before income taxes decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Qualcomm Inc. net income decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Qualcomm Inc. (NASDAQ:QCOM)

Income Statement