Qualcomm's 2nd Fiscal Quarter Nets $5BN In GAAP Revenue

20 April, 2017, 06:46 | Author: Oscar Goodwin
  • QCOM stock chart

Without that setback, Qualcomm would have posted a solid quarter, with higher revenue and adjusted earnings than Wall Street analysts expected.

For the second quarter, the company expects net revenue to be between $2.28 billion and $2.32 billion and non-GAAP earnings to be between 43 cents and 45 cents per share. eBay expects full-year non-GAAP earnings for this year to be between $1.98 and $2.03 per share, which is somewhat light against the consensus of $2.02 per share. It predicts sales of $5.3 billion to $6.1 billion, with earnings of 67 cents to 92 cents per share under Generally Accepted Accounting Principles. Segment operating income rose 179% to $475 million. Qualcomm's accounts receivables soared in the quarter, to a deficit of $1.8 billion, up from $392 million in the year-ago period.

Total reported sales of licensed devices increased by 18% year over year to $82.6 billion.

It is not clear whether Apple's contract manufacturers will underpay royalties owed under their contracts with us in the third quarter of fiscal 2017, which could have a negative impact on our financial results.

Total reported licensed device sales are expected between $59 billion and $67 billion, compared with $62.6 billion during the prior-year period. Its shares ended the day at $52.61 but rose to $53.80 in after-market trading.

It's unclear whether iPhone makers will withhold additional patent royalties going forward, said Qualcomm President Derek Aberle.

While the lack of payments in the quarter was effectively canceled out by the money Qualcomm has withheld Apple in rebate payments, Qualcomm executives said they could not predict whether or not they will be underpaid again in the current quarter, leading to wider-than-normal earnings guidance. In addition to being sued by Apple, Qualcomm is facing an FTC complaint accusing it of anti-competitive business practices.

Qualcomm Inc. (NASDAQ: QCOM) reported second fiscal quarter 2017 results after markets closed on Wednesday.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Qualcomm wasn't one of them! Qualcomm said its revenues were not negatively impacted as the contract manufacturers acknowledged the amounts are due and the underpayment was equal to the amounts that Qualcomm has not paid Apple.

Days later, Apple filed its own allegations of unfair dealing around Qualcomm's intellectual property licensing business. Qualcomm agreed to purchase NXP Semiconductors NV, a leader in chips for the automotive industry, for $39 billion in late 2016.


  • Sharks even series with 7-0 win over Oilers in Game 4

    Kassian walked out and backhanded his second goal of the series under Jones' pads at 10:45 on the Oilers' 21st shot of the game. Making their first playoff appearance in a decade, the Oilers have 20-year-old Art Ross Trophy victor Connor McDavid.
    AkzoNobel plans to spin off Specialty Chemicals unit

    AkzoNobel plans to spin off Specialty Chemicals unit

    Buechner's strategy that also includes new financial targets will be a tough sell in his battle against Pittsburgh-based PPG. Elliott, which has a 3.25 percent stake in Akzo and has been critical of the company management, kept up the pressure.
    Anthony 'Rumble' Johnson retires after Daniel Cormier retains title at UFC 210

    Anthony 'Rumble' Johnson retires after Daniel Cormier retains title at UFC 210

    UFC 210 was full of controversy and head scratchers in different areas, and Twitter was all over every aspect of the night. At 10:59 a.m., Cormier's opponent, Anthony Johnson, had yet to appear.
  • Apple receives permit to test self-driving cars on California roads

    Apple receives permit to test self-driving cars on California roads

    Word came out on Friday that the technology giant has received regulatory permission to test self-driving vehicles in California. Apple's Project Titan, at one point was believed to have over 1000 employees that were working on it.

    UK prime minister defends decision to seek snap election

    Mrs May added: "A stronger economy with a deficit two-thirds down, but people will have a real choice at this election. In contrast, nearly all the MPs in May's Conservatives party (325 out of 330) voted for the early election.

    New United Airlines Policy Scraps Last-Minute Boarding for Crew Members

    In effect, this means that United employees can still take passengers' seats, but not once they are actually seated on the plane. Even booking the United crew members on another flight, even with a competing airline, would have cost the airline far less.
  • UC Berkeley calls off Ann Coulter talk for security reasons

    The hard-right polemicist is unfettered though, and says her speech will go on with or without government permission. Mogulof said "the constitution permits the university to take necessary steps to protect public safety".
    Rumour: There's a SNES mini coming before Christmas

    Rumour: There's a SNES mini coming before Christmas

    Nintendo has been in the news a lot lately for its rather wacky decision to cancel the popular NES Classic Edition . If it comes out true, the SNES Mini will definitely follow the footsteps of the Nintendo NES Classic Mini.
    VP Mike Pence Warns North Korea: 'We Will Defeat Any Attack'

    VP Mike Pence Warns North Korea: 'We Will Defeat Any Attack'

    Wang's comments came amid a mounting war of words between Washington and Pyongyang. "I'm, like, a smart person", he said. Pence paused, collected his thoughts and then told me the story of when he was a 19-year-old traveler in Germany in 1978.
  • What Is St. Cloud's Air Quality?

    What Is St. Cloud's Air Quality?

    The air pollution tends to settle in the basins and valleys in the state, and surround the millions of people who live there. In that vast swath, Northampton County rated worst in the average number of days with elevated particle pollution .

    Turkey's election board rejects appeals to cancel referendum

    The European Union says that if Turkey moves to reinstate the death penalty it would dash any hope that it could join the bloc. The board's decision to accept ballots without official stamps was like "changing the rules midgame", he said.
    Canada police charge woman for smuggling asylum-seekers from U.S.

    Canada police charge woman for smuggling asylum-seekers from U.S.

    Canadian police said their American counterparts also arrested people but would not say whether any charges had been laid. Fisher said it's the first case in which RCMP have intercepted illegal immigrants coming into Saskatchewan this year.


Russia and Iran affirm commitment to Syrian government
That's the same town where the gas attack took place earlier this week, killing 86 people, including dozens of children. McMaster, and Secretary of Defense Jim Mattis, an official familiar with the briefing told Reuters.

Utah Rep. Chaffetz says he won't run for re-election
He left open a possible return to public office, but seems tired of Washington "after more than 1,500 nights away from my home". Josh Romney , Mitt Romney's son, said he's "strongly considering" running, but that wouldn't preclude Chaffetz from jumping in.

Security restrictions force Emirates to scale back flights to US
And on July 1, its twice-daily service from Los Angeles will also switch to a daily frequency. Twice daily Emirates flights to Boston, Los Angeles and Seattle will fall to once a day.

Protesters march before EPA chief Indiana visit
But an EPA official told CNN the initial report saying the agency is considering shutting down the Chicago office is false. These and other EPA cuts have ramifications not just for East Chicago, but for polluted communities nationwide.

Bill O'Reilly out at Fox News Channel after 20 years
In a separate statement, Fox News announced that The O'Reilly Factor will continue with guest hosts for the rest of the week. The departure from Fox News marks a stunning end to a near flawless marriage between a pugnacious personality and network.