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Qualcomm (QCOM) Posts Q3 Earnings Beat, Revenue up 13%
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Qualcomm Inc. (QCOM - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings of $1.17 (accounting for stock-based compensation and other BNRI) and revenues of $6.2 billion. QCOM is a Zacks Rank #3 (Hold), and is up 0.61% to $67.50 per share in after-hours trading after its earnings report was released.
Beat earnings estimates. The company reported earnings of $1.17, surpassing the Zacks Consensus Estimate of 98 cents per share. This number excludes 10 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $6.2 billion, beating the Zacks Consensus Estimate of $5.788 billion and increasing 13% year-over-year.
GAAP net income came in at $1.6 billion, gaining 51% year-over-year.
Looking ahead, Qualcomm expects its first quarter fiscal 2017 revenues to be in the range of $5.7 billion to $6.5 billion. GAAP EPS is expected to come in at $0.91 to $1.01 per share, while non-GAAP diluted EPS should fall in the range of $1.12-$1.22 per share.
“Our fiscal fourth quarter EPS was above the high end of our expectations, reflecting new license agreements in China and strong chipset shipments,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We are forecasting continued growth of global 3G/4G device shipments in calendar year 2017, led by growing demand in emerging regions. We are well positioned to extend our mobile technology leadership and footprint into attractive growth opportunities, accelerated by our recently announced agreement to acquire NXP.”
Here’s a graph that looks at Qualcomm’s price, consensus, and EPS surprise:
QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress.
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Qualcomm (QCOM) Posts Q3 Earnings Beat, Revenue up 13%
Qualcomm Inc. (QCOM - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings of $1.17 (accounting for stock-based compensation and other BNRI) and revenues of $6.2 billion. QCOM is a Zacks Rank #3 (Hold), and is up 0.61% to $67.50 per share in after-hours trading after its earnings report was released.
Beat earnings estimates. The company reported earnings of $1.17, surpassing the Zacks Consensus Estimate of 98 cents per share. This number excludes 10 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $6.2 billion, beating the Zacks Consensus Estimate of $5.788 billion and increasing 13% year-over-year.
GAAP net income came in at $1.6 billion, gaining 51% year-over-year.
Looking ahead, Qualcomm expects its first quarter fiscal 2017 revenues to be in the range of $5.7 billion to $6.5 billion. GAAP EPS is expected to come in at $0.91 to $1.01 per share, while non-GAAP diluted EPS should fall in the range of $1.12-$1.22 per share.
“Our fiscal fourth quarter EPS was above the high end of our expectations, reflecting new license agreements in China and strong chipset shipments,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We are forecasting continued growth of global 3G/4G device shipments in calendar year 2017, led by growing demand in emerging regions. We are well positioned to extend our mobile technology leadership and footprint into attractive growth opportunities, accelerated by our recently announced agreement to acquire NXP.”
Here’s a graph that looks at Qualcomm’s price, consensus, and EPS surprise:
QUALCOMM INC Price, Consensus and EPS Surprise
QUALCOMM INC Price, Consensus and EPS Surprise | QUALCOMM INC Quote
QUALCOMM Inc. develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>