Visitors Now:
Total Visits:
Total Stories:
Profile image
By ETF Daily News (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Qualcomm’s Earnings Beat View, But Forecast Could Miss

Wednesday, November 2, 2016 13:49
% of readers think this story is Fact. Add your two cents.

(Before It's News)

qualcomm-qcom-logoWireless technology giant QUALCOMM, Inc. (NASDAQ:QCOM) late Wednesday posted better-than-expected fiscal Q4 results and offered a tepid Q1 outlook.

The San Diego-based company reported Q4 net income of $1.28 per share, a full 15 cents better than Wall Street’s $1.13 estimate. Revenue jumped 12.7% from last year to $6.2 billion, easily beating analysts’ $5.86 billion view.

Looking ahead, QCOM issued mostly in-line Q1 guidance. The company expects Q1 EPS to range from $1.12 to $1.22, which could miss Wall Street’s $1.22 estimate. It also sees revenues of $5.7 to $6.5 billion, versus analysts’ $6.14 billion view. Additionally, QCOM forecast Q1 MSM chip shipments of 205 million to 225 million, with total reported device sales of approximately $58.0 to $66.0 billion.

The company commented via press release:

“We are forecasting continued growth of global 3G/4G device shipments in calendar year 2017, led by growing demand in emerging regions. We are well positioned to extend our mobile technology leadership and footprint into attractive growth opportunities, accelerated by our recently announced agreement to acquire NXP.”

Last month, Qualcomm announced a massive merger with Netherlands-based NXP Semiconductor. That $47 billion deal is expected to close some time next year.

Qualcomm shares were mostly flat in after-hours trading Wednesday. Prior to today’s report, QCOM had gained more than 34% year-to-date, versus just a 3.1% return in the benchmark S&P 500 during the same period.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.