QUALCOMM Inc. (NASDAQ: QCOM) has just posted $0.54 non-GAAP EPS on $2,75 billion in revenues versus the Thomson Reuters targets of $0.52 EPS and $2.73 billion in revenues. Unfortunately, the company’s effective tax rate was 25% for the quarter and is expected to reach 33% for its Fiscal 2009 period. Cash and equivalents were approximately $15.7 billion at the end of the quarter.
For 2009, the company is targeting operating earnings of $2.34 to $2.44 billion and pro forma operating net at $3.30 to $3.4 billion. The revenues were raised to a range of $10.25 to $10.45 billion from a prior range of $9.85 to $10.25 billion. Estimates are $1.80 non-GAAP EPS and $10.39 billion in revenues.
The ASP was put at $189 for its fourth quarter and $199 on average for the whole of 2009. That signals further declines a disappointment from prior targets. For the year, we still have a targeted handset device shipments targeted at 540 to 590 million. Based on a 565 million midpoint, that was listed as 217 million CDMA units and 348 million WCDMA units.
Shares closed up almost 1% at $48.45 today and the after-hours session has shares trading under $47.00.
JON C. OGG
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
