Qualcomm +2.8% on Q2 beats, in-line revenue guidance
Apr. 25, 2018 4:35 PM ETQUALCOMM Incorporated (QCOM)QCOMBy: Brandy Betz, SA News Editor23 Comments
- Qualcomm (NASDAQ:QCOM) shares are up 2.8% aftermarket on Q2 results that beat EPS and revenue estimates with a 51.5% quarterly profit drop due to increasing costs and the sale of fewer modem semiconductors for mobile phones.
- Q3 guidance has in-line revenue of $4.8B to $5.6B (consensus: $5.28B) and downside EPS of $0.65 to $0.75 (consensus: $0.77).
- Segment results: QCT: revenue, $3.9B (+6% Y/Y; -16% Q/Q); EBT, $608M (+28% Y/Y; -36% Q/Q); MSM chip shipments, 187M (+4% Y/Y; -21% Q/Q); QTL: revenue, $1.3B (-44% Y/Y; -3% Q/Q); EBT, $850M (-57% Y/Y; -4% Q/Q).
- Key metrics: Cash and equivalents, $39.6B; capital allocation, $1B ($845M in dividends and $200M in repurchases); total costs and expenses, $4.8B (+$533M).
- Press release
- Previously: Qualcomm beats by $0.10, beats on revenue (April 25)