Qualcomm CEO Steven Mollenkopf. Photo credit: Jordan Curet/Fortune Brainstorm Tech, under Creative Commons license

Semiconductor company Qualcomm has announced its financial results for its most recent quarter of this year, indicating $4.9 billion in revenues and $845 million in net income. During the quarter, the San Diego-based company returned $843 million to shareholders via cash dividends and share repurchases. Also during the quarter, Qualcomm notably reached a cross-licensing patent deal with Chinese telecom giant Huawei that it predicts will add an estimated $1.8 billion in revenues for itself in the next quarter. For the next quarter, Qualcomm is now forecasting between $7.3 billion-$8.1 billion in revenues.

“As 5G continues to roll out, we are realizing the benefits of the investments we have made in building the most extensive licensing program in mobile and are turning the technical challenges of 5G into leadership opportunities and commercial wins,” Qualcomm CEO Steven Mollenkopf said in a press statement. “We delivered earnings above the high end of our range, continued to execute in our product and licensing businesses and entered into a new long-term patent license agreement with Huawei, all of which position us well for the balance of 2020 and beyond.”