American telecommunications company Qualcomm reported adjusted earnings of $0.92 per share in the fourth quarter of the year, making a 28% decrease compared to a year ago, according to a statement issued by the company on Wednesday. However, Qualcomm's GAAP earnings stood at $0.11 in the same period, making a 90% fall annually. Meanwhile, revenues amounted to $5.9 billion, declining 82% compared to last year's figure. The reported net income was $0.2 billion, an 89% decline compared to the fourth quarter of 2016. The operating cash flow made a 16% gain from last year, rising to $2.4 billion.
The company stated that third and fourth quarters and fiscal 2017 GAAP and Non-GAAP results were negatively impacted as a result of actions taken by Apple and its contract manufacturers as well as the previously disclosed dispute with another licensee. The yearly GAAP results were also heavily affected by an $868 million charge imposed by the Korea Fair Trade Commission (KFTC) in the first quarter of fiscal 2017, as well as the $778 million charge for the fine imposed by the Taiwan Fair Trade Commission in the fourth quarter.
"We continue to see strong growth trends for global 3G/4G device shipments and are focused on protecting the established value of our technologies and inventions." said Steve Mollenkopf, CEO of Qualcomm Incorporated. "We are leading the industry to 5G and are well positioned with our product and technology leadership to continue our expansion into many exciting new product categories, such as automotive, mobile computing, networking and the Internet of Things."
