Cristiano R. Amon
President and Chief Executive Officer at QUALCOMM
Thank you, Mauricio and good afternoon, everyone. Thanks for joining us today. As the pace of digital transformation of industries accelerates and as devices become connected and more intelligent, our broad portfolio of technologies and solutions is creating a significant long-term growth opportunity for us.
As you can see from our results, the performance in our chipset business led to record fiscal fourth quarter non-GAAP revenues of $9.3 billion and record non-GAAP earnings per share of $2.55. Notably, this is our fifth consecutive quarter of greater than 100% year-over-year EBITDA growth in our chipset business. We also demonstrated revenue diversification with combined RF front-end, automotive and IoT fiscal '21 revenues exceeding $10 billion, an increase of 69% year-over-year.
Going forward, our chipset business represents the largest growth engine for us as virtually all devices at the edge adopt mobile technologies. We have the relevant technologies required to continue to lead in mobile and the connected intelligent edge. And as the edge gain scale in connectivity and adopts own device artificial intelligence, we're well positioned to become a leader in AI processing.
Let me now briefly highlight the strong momentum we continue to see in IoT across consumer, edge networking and industrial. In consumer, we're pleased that our XR platforms are powering over 50 commercial devices and gaining scale with the leading VR and AR ecosystems. Our early investments have established Snapdragon XR as a device platform of choice for connecting physical and digital spaces and recent market developments position us as one of the key enablers of the metaverse opportunity.
Additionally, the ongoing conversions of mobile and compute continues to drive demand for Snapdragon power premium tablets, 2-in-1s and laptops. We are pleased with the strong market validation of ARM-based personal computing and the industry transition to a new SoC architecture. We are more confident than ever in the connected computing opportunity, our upcoming solutions powered by our NUVIA CPUs and our collaboration with Microsoft.
We're also seeing increased traction in consumer electronics. Our advanced technologies are powering category-leading devices such as the Peloton Bike plus and Tread as well as the ASTRO, Amazon's recently announced household robot. In Edge networking, we are a leader in current and next generation high performance Wi-Fi 6 and Wi-Fi 6E access point solutions and we continue to see high demand for our products driven by home and enterprise upgrade cycles. We expect this trend to continue as productivity increasingly requires video collaboration as well as cloud processing and storage.
5G as wireless fiber is now a reality and gaining scale. In the United States, Verizon recently announced 5G home Internet service availability in 57 markets, including more than 2 million households covered on millimeter wave. In addition, T-Mobile is leveraging their 5G network to target 7 million to 8 million home broadband customers over the next five years. We're seeing demand increase globally, making 5G as wireless fiber, one of the fastest growing last mile broadband technologies.
In industrial, we have expanded our Qualcomm IoT services suites to more than 30 verticals. As an example, in retail, our solutions are powering digital signage, payment, and self checkout devices from companies like Square and Clover as well as solutions from Honeywell, Panasonic, Zebra and others to enable new customer experiences, help empower store associates and improve operational efficiencies.
We also continue to lead the way on product innovation, with new launches like the Qualcomm Flight RB5, the world's first 5G AI drone platform. In RF front end, we expanded our product portfolio with our recently announced ultraBAW RF filter technology that support frequencies from 2.7 gigahertz to 7.2 gigahertz. This is the new industry benchmark for performance in this range.
UltraBAW technology also supports Wi-Fi bands including 5 gigahertz, the newly adopted 6 gigahertz band for Wi-Fi 6E and future Wi-Fi standards. This creates a new growth vector for RF front end as we attach RF solutions to Wi-Fi. Our RF front-end portfolio combining ultraSAW and ultraBAW technologies is now best-in-class form 600 megahertz to 7 gigahertz. And with the addition of millimeter wave, we are the only RF front end provider with a comprehensive solution for all bands.
As cellular expands beyond handsets, we're focused on extending our modem-to-antenna platform to automotive and IoT. In automotive, we're creating a leading horizontal and open platform with our Snapdragon digital chassis, which includes our telematics, digital cockpit, Car-to-Cloud Service, ADAS and autonomy solutions. Taking the same approach we used to make the smartphone, the world's largest computing and developer platform, we're currently working with automakers and tier ones to create a joint roadmap to build a multi-tier multi-generation scalable and upgradable platform for long-term sustainable business. The strength of our digital chassis strategy is reflected in both our results as well as strong design pipeline and is creating a platform for innovation for Qualcomm. We are also very excited about Arriver. Upon closing, Snapdragon Ride ADAS solutions will be complemented with Arriver's computer vision, drive policy and driver assistant assets, enhancing our ability to deliver an open and competitive ADAS platform for automakers and tier ones at scale.
In handsets, we're successfully executing on our strategy. Our premium tier Snapdragon solutions continue to gain traction with OEMs. In fiscal Q4, devices announced or shipped with our Snapdragon premium tier products increased by 21% year-over-year. Notably, all leading 5G Android smartphones OEMs by volume continue to power their flagship devices with Snapdragon.
Snapdragon continues to be the preferred choice for premium and high-tier Android smartphones in all regions. As a result, we're benefiting from the changing OEM landscape and Android SAM expansion. Lastly, our licensing business achieved fiscal '21 revenues in excess of $6.3 billion. QTL remains the most successful licensing business in the industry, reflecting the strength of our innovation in cellular technology, the value of our extensive patent portfolio and our execution in securing long-term agreements with key OEMs as well as over 150 5G agreements to date.
As we have noted throughout the year, we continue to see incredibly strong demand across all our technologies as the current environment is a seller rating the scale of connectivity and processing at the edge. We still expect material improvement store supply by the end of the calendar year. And our second sourcing initiatives remain on track.
Before I turn the call over to Akash, I would like to highlight that we recently announced a goal to achieve net zero global emissions for scopes 1, 2 and 3 by 2040. We also look forward to enabling a more sustainable future with 5G to its impact on greenhouse gas emissions reduction, energy and water use optimization, green Jobs creation and more.
I would now like to turn the call over to Akash.