GOP tax bill causes Qualcomm annual earnings to fall despite record revenue

Qualcomm CEO Christiano Amon speaks at Snapdragon Summit Photo courtesy of Qualcomm A one-time tax charge caused Qualcomm to statement a decline in earnings for its fiscal year ended Sept but the company mentioned revenue grew to a record billion The San Diego-based wireless pioneer commented act in the Republican-led One Big Beautiful Bill Act resulted in a non-cash billion charge or per share in the fourth quarter of its fiscal year Qualcomm published full-year earnings of billion or per share compared to billion or per share in the previous year Revenue grew to billion from billion The tax charge resulted in a fourth-quarter loss of billion or per share Our business remains strong as demonstrated by record Qualcomm Technologies revenues in fiscal reported President and CEO Cristiano Amon We delivered year-over-year advancement in total QCT non-Apple revenues with combined fiscal year automotive and IoT revenue progress of We are excited about our business momentum the availability of our automated driving stack and our expansion to input centers and advanced robotics he added Qualcomm commented that after the one-time tax charge it expected an effective tax rate in the to range and lower cash tax payments in future periods The company s stock was down in after-hours trading following the earnings announcement