Annual report pursuant to Section 13 and 15(d)

Summarized Quarterly Data (Unaudited)

v3.19.3
Summarized Quarterly Data (Unaudited)
12 Months Ended
Sep. 29, 2019
Quarterly Financial Data [Abstract]  
Summarized Quarterly Data (unaudited) Summarized Quarterly Data (Unaudited)
The following financial information reflects all normal recurring adjustments that are, in the opinion of management, necessary for a fair statement of the results of the interim periods.
The table below presents quarterly data for fiscal 2019 and 2018 (in millions, except per share data):
 
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
2019 (1)
 
 
 
 
 
 
 
Revenues (2)
$
4,842

 
$
4,982

 
$
9,635

 
$
4,814

Operating income (2)
710

 
940

 
5,317

 
701

Net income (2)
1,068

 
663

 
2,149

 
506

 
 
 
 
 
 
 
 
Basic earnings per share (3):
$
0.88

 
$
0.55

 
$
1.77

 
$
0.42

Diluted earnings per share (3):
0.87

 
0.55

 
1.75

 
0.42

 
 
 
 
 
 
 
 
2018 (1) (4)
 
 
 
 
 
 
 
Revenues
$
6,035

 
$
5,220

 
$
5,577

 
$
5,778

Operating (loss) income (5)
(4
)
 
400

 
903

 
(679
)
Net (loss) income (5)
(5,983
)
 
330

 
1,202

 
(513
)
 
 
 
 
 
 
 
 
Basic (loss) earnings per share (3):
$
(4.05
)
 
$
0.22

 
$
0.81

 
$
(0.36
)
Diluted (loss) earnings per share (3):
(4.05
)
 
0.22

 
0.81

 
(0.36
)
(1)
Amounts, other than per share amounts, are rounded to millions each quarter. Therefore, the sum of the quarterly amounts may not equal the annual amounts reported.
(2)
Revenues, operating income and net income in the third quarter of fiscal 2019 included licensing revenues recognized of $4.7 billion resulting from the settlement with Apple and its contract manufacturers. Operating income and net income in the third quarter of fiscal 2019 were impacted by a $275 million charge related to the 2019 EC Fine. Net income in the first quarter of fiscal 2019 was impacted by an income tax benefit of $570 million due to establishing new U.S. net deferred tax assets from making certain check-the-box elections. Net income in the third quarter of fiscal 2019 was impacted by a $2.5 billion charge to income tax expense resulting from the derecognition of a deferred tax asset related to the distributed intellectual property.
(3)
Earnings (loss) per share and earnings per share attributable to Qualcomm are computed independently for each quarter and the full year based upon respective average shares outstanding. Therefore, the sum of the quarterly (loss) earnings per share amounts may not equal the annual amounts reported.
(4)
As previously disclosed in our Quarterly Reports on Form 10-Q for the quarters ended December 30, 2018, March 31, 2019 and June 30, 2019, we revised certain prior period financial information for an immaterial error related to the recognition of certain royalty revenues of our QTL segment (Note 1).
(5)
Operating loss and net loss in the fourth quarter of fiscal 2018 were impacted by a $2.0 billion charge related to the NXP termination fee. Net loss in the first quarter of fiscal 2018 was impacted by a $5.9 billion provisional charge to income tax expense due to the effects of the Tax Legislation. Additionally, operating income and net loss in the first quarter of fiscal 2018 were impacted by a $1.2 billion charge related to the 2018 EC fine.