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.

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