Qualcomm to Record $4.5 - $4.7 Billion in Revenue From Apple Settlement

Qualcomm to Record $4.5 - $4.7 Billion in Revenue From Apple Settlement

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Qualcomm has announced that it expects to record revenues of $4.5 billion to $4.7 billion from its settlement with Apple.

The company disclosed the amount in its Q2 FY19 earnings release.

On April 16, 2019, we entered into settlement agreements with Apple and its contract manufacturers to dismiss all outstanding litigation between the parties. We also entered into a six-year global patent license agreement with Apple, effective as of April 1, 2019, which includes an option for Apple to extend for an additional two years, and a multi-year chipset supply agreement with Apple. While we continue to assess the accounting impacts of the agreements, our financial guidance for the third quarter of fiscal 2019 includes estimated revenues of $4.5 billion to $4.7 billion resulting from the settlement (which will be excluded from our Non-GAAP results), consisting of a payment from Apple and the release of our obligations to pay or refund Apple and the contract manufacturers certain customer-related liabilities. In addition, our financial guidance for the third quarter of fiscal 2019 includes estimated QTL revenues for royalties due from Apple and its contract manufacturers for sales made in the June 2019 quarter.

More details in the full earnings release linked below...

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Qualcomm to Record $4.5 - $4.7 Billion in Revenue From Apple Settlement

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