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# Qualcomm’s revenue decreased 12% YoY in Q4 2022
- URL: https://www.techloy.com/qualcomms-revenue-decreased-12-year-over-year-in-q4-2022/
- Published: 2023-02-07T17:23:42.000Z
- Updated: 2023-02-07T17:23:42.000Z
- Author: Emmanuel Oyedeji
- Tags: Business, Qualcomm, Insight Partners

Chipmaker Qualcomm has posted a 12% year-over-year decrease in its first quarter of the fiscal year 2023 which ended Dec. 25 in a press release last week.

Net income also fell 34% to $2.24 billion. The company cited the macroeconomic environment and higher channel inventory as reasons for the below-average results.

![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/2023/02/Qualcomm-financial-highlight--Q1-FY23---ended-25th-Dec.png)

Revenue from Qualcomm’s CDMA Technologies (QCT) segment, which includes smartphone chips, automotive chips and internet of things devices, fell 11% below the $8.03 billion estimated by analysts to $7.89 billion in the quarter.

In that segment, mobile handset revenue reached $5.75 billion, down 18% YoY in the quarter as the smartphone industry continues to experience reduced demand.

[The global smartphone market sees another tough year with 11% drop in shipments during 2022The global smartphone market faced another difficult year with an 11% drop in shipments in 2022, according to new data from Canalys. This was the lowest number seen in nearly a decade, with the last time figures were this low being in 2013\. The market faced challenges from the pandemic,![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/size/w256h256/2021/07/techloy-dot.png)TechloyAcquah Nana Yeboah![](https://images.unsplash.com/photo-1513611771808-7e8ab7f1dec6?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDF8fHBob25lc3xlbnwwfHx8fDE2NzQxMzQxNDA&ixlib=rb-4.0.3&q=80&w=2000)](https://www.techloy.com/global-smartphone-market-declined-11-percent-in-2022/)

The IoT product segment also saw a slowdown in revenue. Revenue came in at $1.7 billion representing 21% of QCT revenue in Q1 FY23\. For Q1 FY22 IoT revenue grew by 37% YoY.

For the Qualcomm Technology Licensing (QTL) segment which includes rights to use the company’s cellular patents delivered $1.52 billion, down 16% YoY in the quarter.

In its guidance for adjusted fiscal second-quarter earnings, the chipmaker expects a $2.05 to $2.25 per share on $8.7 billion to $9.5 billion in revenue, which implies a revenue decline of 18.5% at the middle of the range. This is also below analysts' estimates of $2.26 in adjusted earnings per share on $9.55 billion in revenue.