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

20 April, 2017, 06:46 | Author: Oscar Goodwin
  • Chipmaker Qualcomm's revenue falls 9.6 pct

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.


  • 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.
    Security restrictions force Emirates to scale back flights to US

    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.
    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.
  • Bill O'Reilly out at Fox News Channel after 20 years

    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.

    Venezuela's Maduro seeks to expand armed civilian militias

    According to a survey by pollster Venebarometro, seven in 10 Venezuelans disapprove of Maduro, whose term does not end until 2019. Translation: The Revolutionary People have overflowed the streets of Venezuela to defend the Homeland, President Maduro wrote.

    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".

    Israel Vows Not to Negotiate with Palestinian Hunger Strikers

    Hunger-striking Palestinians being held under administrative detention and Israeli authorities have negotiated deals in the past. More than 1,500 Palestinian prisoners have launched an open-ended hunger strike to demand better conditions in Israeli prisons.
    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.
  • 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.

    Tom Brady, And Other Patriots Skip 'Super Bowl' White House Visit

    Baseball Hall of Famer Rod Carew received a new heart and kidney from the late National Football League player Konrad Reuland. Also not addressed in the ceremony was the morning news of former Patriots player Aaron Hernandez's suicide.

    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.


General Election 2017: Jeremy Corbyn is not electable, say Star readers
Expect to see lots of photo-ops with the anti-Brexit Mayor in these seats. "My very best wishes to all Conservative candidates". The announcement came after months of tumult in British politics following the Brexit vote.

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.

Trump takes first step towards H-1B visa reform
The trip to Wisconsin marked Trump's first visit to Speaker Paul Ryan's home state and district since taking office. The new order would direct US agencies to propose rules to prevent immigration fraud and abuse in the program.

Facebook murder suspect remains at large as police ask public for help
This undated photo provided by the Cleveland Police shows Steve Stephens . "If you did it, you have to face your crime", she said. Facebook plans to work with developers this year to come up with more augmented reality games and other uses, Zuckerberg said.

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.