More on Qualcomm: 172M MSM chip shipments in FQ3, +22% Y/Y and near top of guidance range of...

|About: Qualcomm Inc. (QCOM)|By:, SA News Editor

More on Qualcomm: 172M MSM chip shipments in FQ3, +22% Y/Y and near top of guidance range of 163M-173M. 171M-181M forecast for FQ4 (+21%-28% Y/Y).  Forecast for 2013 royalty-bearing device shipments unchanged at 1.015B-1.085B in spite of smartphone concerns. Royalty-bearing device sales +18% Y/Y in March quarter (same as Dec. quarter). Device ASP rose to $227-$233 in March quarter from Dec. quarter's $214-$220 in spite of reports of soft high-end smartphone sales. EPS dinged by 36% Y/Y increase in R&D spend to $1.13B (up from +28% in FQ2). SG&A +19% to $505M (+14% in FQ2). Chip division's EBT margin was 17%, even with FQ2 but down from 25% a year ago. $1.04B spent on buybacks. Royalty division's EBT profit ($1.63B) still over 2x chip division's ($738M). QCOM +4.5% AH. (PR) (slides)

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