Wednesday, July 20, 2016

Qualcomm Posts Revenues of $6 Billion, up 4% YoY

Qualcomm reported revenue of $6.0 billion for its fiscal third quarter ended June 26, 2016, up 4% YoY and up 9% sequentially. Net income (GAAP) was $1.4 billion, up 22% YoY. EPS came in at $0.97.

“We delivered strong results this quarter, with EPS well ahead of our guidance based on meaningful progress with licensees in China,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “Our chipset business is also benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China. We are executing well on our strategic priorities, and we remain confident that our focused investments in 5G and other advanced technologies will create a strong foundation for long-term earnings growth.”

Qualcomm reported 201 million MSM device shipments during the quarter, down 11% from a year earlier.

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