Analysis QCOM 2024 Q1 Income Statement

Qualcomm's Q1 2024 income statement exhibits robust performance, with notable growth in revenue and net income. The company's operating revenue for the quarter is $9.94 billion, reflecting a steady increase from the previous year. Cost of goods sold is not disclosed, but the reported gross profit of $2.77 billion indicates a strong operational efficiency. Research and development expenses, although substantial at $8.82 billion, are essential for maintaining the company's technological edge in the semiconductor industry. The net income of $2.77 billion, with a year-on-year growth rate of 23.8%, showcases Qualcomm's ability to effectively manage costs and generate substantial profits. The company's commitment to innovation, coupled with its strong financial performance, positions it favorably in the information technology sector.${富文本块}