When Qualcomm Inc. (NASDAQ: QCOM | QCOM Price Prediction) reported fiscal fourth-quarter financial results after markets closed Wednesday, the fabless semiconductor maker said that it had $1.45 in earnings per share (EPS) and $6.5 billion in revenue, compared with consensus estimates that called for $1.17 in EPS and revenue of $5.94 billion. The same period of last year reportedly had EPS of $0.78 on $4.8 billion in revenue.
Management noted that this quarter demonstrated that Qualcomm’s investments in 5G are coming to fruition and showing benefits in its licensing and product businesses. The company concluded the year with exceptional fourth quarter results and it is well positioned for growth in 2021 and beyond.
In terms of its segments, Qualcomm reported:
- QCT revenues increased 38% year over year to $4.97 billion, with earnings before taxes (EBT) of $1.02 billion.
- QTL revenues increased 30% to $1.51 billion, with EBT of $1.11 billion.
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On the books, cash, cash equivalents, and marketable securities totaled $11.2 billion at the end of the quarter, versus $12.3 billion at the end of the previous fiscal year.
Looking ahead to the fiscal first quarter, the company expects to see EPS in the range of $1.95 to $2.15 and revenue between $7.8 billion and $8.6 billion. Consensus estimates call for $1.68 in EPS and $7.13 billion in revenue for the coming quarter.
Qualcomm stock closed Wednesday at $128.97, in a 52-week range of $58.00 to $132.42. The consensus price target is $131.90. Following the announcement, the stock was up nearly 6% at $136.35 in the after-hours session.
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