Mobile technology giant Qualcomm posted strong financial results on Wednesday, driven by 5G Android smartphones, particularly in China, and continued expansion of its wireless technologies into automotive and other non-smartphone markets.
The San Diego company posted good numbers despite lingering supply chain shortages that kept its results from being even better. Still, Chief Executive Cristiano Amon said bottlenecks are easing — in part because of the company's efforts to bring onboard additional suppliers.
"We still have more demand than supply, even though we are very happy with the growth rates, how good the quarter was, and how we're managing the seasonality between handsets and the (adjacent) businesses," said Amon in a conference call with Wall Street analysts. "And as we said, supply is going to get better as we get to the second half of 2022."
