Qualcomm's forecast current-quarter revenue that met analysts’ expectations and said it had negotiated a new interim contract with Huawei Technologies that added to revenue in the quarter.
The new interim contract with Huawei means the only big dispute Qualcomm has with a customer now is with Apple, after it resolved its disputes with Samsung Electronics last year.
Qualcomm said it expects current-quarter revenue to be between $4.4 billion and $5.2 billion.
Net income attributable to Qualcomm was $1.07 billion for the first quarter ended Dec. 30, compared with a loss of $5.98 billion a year earlier when it took a $6 billion tax charge.
Revenue fell 20 percent to $4.84 billion.
“Our fiscal first quarter results reflected continued strength in our semiconductor business, driven by strong product leadership and operating expense management,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We continue to execute on our strategic objectives, including driving the global transition to 5G, protecting the established value of our technology and inventions and expanding into new industries and product categories."