The company had recently noted that its subsidiary, Qualcomm Technologies, Inc., has entered into a definitive agreement to acquire NUVIA for approximately $1.4 billion
Qualcomm Incorporated (NASDAQ: QCOM) has announced results for its fiscal first quarter ended 27 December 2020. The company noted that during the first quarter of fiscal 2021, it returned $1.2 billion to stockholders, including $739 million, or $0.65 per share, of cash dividends paid and $444 million through repurchases of three million shares of common stock.
“We delivered an exceptional quarter, more than doubling earnings year-over-year due to strong 5G demand in handsets and growth in our RF front-end, automotive and IoT adjacencies, which drove record earnings in our chip business,” said Steve Mollenkopf, CEO of Qualcomm Incorporated.”
He added, “We remain well positioned as the 5G ramp continues and we extend our core technology roadmap to adjacent
industries.”
The company has reported $8.2 billion revenue during the fist quarter of fiscal 2021. The company had recently noted that its subsidiary, Qualcomm Technologies, Inc., has entered into a definitive agreement to acquire NUVIA for approximately $1.4 billion before working capital and other adjustments.
“5G, the convergence of computing and mobile architectures, and the expansion of mobile technologies into other industries are significant opportunities for Qualcomm,” said Cristiano Amon, President and CEO-Elect, Qualcomm Incorporated, had said.
He had adde, “The NUVIA team are proven innovators, and like Qualcomm, have a strong heritage in creating leading technology and products. I am very excited to have them join our team. Together, we are very well positioned to redefine computing and enable our ecosystem of partners to drive innovation and deliver a new class of products and experiences for the 5G era.”
