Qualcomm (QCOM-NASDAQ) $0.43 EPS on $2.02 Billion revenues; was expected at $0.42 and $2.07 Billion, but they had already guided slightly lower in December and Motorola had already given its warning. QUALCOMM reaffirms most recent fiscal 2007 revenue and pro forma earnings guidance. It ended with $10.5 Billion in cash and equivalents. It is looking for $2.02 to $2.1 Billion in revenues and $0.42 to $0.44 EPS, and expects handset shipments 55M to 57M, and worldwide CDMA/WCDMA shipments at 82M to 86M with an average $217 price. It is reaffirming $8.1 to $8.6 Billion and prior $1.72 to $1.77 EPS guidance. It also outlined the exposure to Nokia that is scheduled to end this year.
QCOM closed up 1.3% at $38.62, and the initial response so far is the shares up 2.2% at $39.48 in after-hours trading. So far this looks like Paul Jacobs is keeping everything going, so we’ll have to see how negotiations and the legal environment is going later. It is hard to know how the reaction will go on the street later after the conference call and after the dust settles from comments, but on first glance these actual numbers and metrics look good enough to keep the street happy with the stock down where it is.
Jon C. Ogg
January 24, 2007
Top Gaining Stocks
Top Losing Stocks