S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Telecom & Wireless

QUALCOMM Earnings: Great Might Not Be Good Enough

Photo of Jon C. Ogg
By Jon C. Ogg Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

94073253
Thinkstock
QUALCOMM, Inc. (NASDAQ: QCOM) has been riding the smartphone wave for quite some time now. Its earnings report may be indicating that all trends either peak or need to take a breather before resuming. The company reported that sales rose 24% year over year and 2% sequentially to $6.12 billion as diluted non-GAAP earnings rose 17% year over year to $1.17 per share. Thomson Reuters had estimates of $6.07 billion in revenue and $1.16 in earnings per share. QUALCOMM also said that it shipped 173 million units, up 14% from a year ago and down 5% sequentially.

Guidance for the coming quarter is $5.8 to $6.3 billion in revenue and $0.97 to $1.05 in non-GAAP earnings per share. Thomson Reuters has estimates of $1.04 EPS and $5.88 billion in sales. QUALCOMM Is now projecting unit shipments growth of 16% to 23% or 163 to 173 million.

QUALCOMM’s cash and cash equivalents and marketable securities totaled $30.5 billion at the end of the second quarter of fiscal 2013, compared to $26.6 billion a year ago and $28.4 billion at the end of the first quarter of fiscal 2013.

Chairman and CEO Dr. Paul Jacobs said, “Looking forward, we are seeing strong traction with our new Qualcomm Snapdragon 600 and 800 processors, and we continue to expect healthy growth in 3G and 3G/4G multimode devices around the world.  We are pleased to be raising our calendar 2013 3G/4G device shipment estimates and our revenue and earnings guidance for fiscal 2013.”

QUALCOMM shares closed up 0.99% at $66.00 on Wednesday against a 52-week range of $53.09 to $68.50. The stock is down 5.1% at $62.50 in the after-hours indication.

Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

Continue Reading

Jon C. Ogg |

QUALCOMM Taking a Much Needed Breather After Earnings

ThinkstockQUALCOMM Inc. (NASDAQ: QCOM) is out with yet another earnings report. The semiconductor leader has won handily from its mobile…
Paul Ausick |

Qualcomm Posts Good Numbers, Raises Guidance a Little

Qualcomm Inc. (NASDAQ: QCOM) reported third-quarter fiscal 2013 results after markets closed today. The communications chipmaker posted adjusted diluted earnings per…
Jon C. Ogg |

Qualcomm Now Sitting on $31.6 Billion Cash Arsenal After Earnings

ThinkstockQualcomm Inc. (NASDAQ: QCOM) is managing to escape its Apple-woes, which were present before Wednesday’s earnings report. The mobile processor…
Jon C. Ogg |

Qualcomm Posts Great Earnings, Guidance Not So Much

ThinkstockQualcomm Inc. (NASDAQ: QCOM) has reported earnings of $1.31 in earnings per share, or $1.44 in adjusted earnings per share, for…
Qualcomm Earnings and Guidance Dodge Big Concerns, Pending the Apple Outcome
Jon C. Ogg |

Qualcomm Earnings and Guidance Dodge Big Concerns, Pending the Apple Outcome

QUALCOMM Inc. (NASDAQ: QCOM) has reported its fiscal fourth quarter earnings for 2017. Its shares had been hurt in the…
Paul Ausick |

Qualcomm Revenues Stall

ThinkstockQualcomm Inc. (NASDAQ: QCOM) reported second fiscal quarter 2014 results after markets closed on Wednesday. The chipmaker posted adjusted diluted…
Jon C. Ogg |

Microsoft Turns In Mixed Earnings Report

courtesy of MicrosoftMicrosoft Corporation (NASDAQ: MSFT) has released its second quarter fiscal earnings for 2013 and shares are getting clipped…
Chris Lange |

Qualcomm Falls Short of Earnings and Guidance

Qualcomm reported disappointing fourth-quarter results Wednesday after the market close.
Qualcomm Delivers on Earnings Ahead of and Into NXP Semiconductor Acquisition
Jon C. Ogg |

Qualcomm Delivers on Earnings Ahead of and Into NXP Semiconductor Acquisition

Qualcomm Inc. (NASDAQ: QCOM) had already made a serious change by announcing the acquisition of NXP Semiconductors (NASDAQ: NXPI) as…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618