Chipmaker Qualcomm's revenue falls 9.6 percent

21 Avril, 2017, 02:56 | Author: Come Portier
  • Chipmaker Qualcomm's revenue, adjusted profit beat estimates

"The first quarter was a strong start to the year with accelerating growth in active buyers, revenue and our core US business", eBay President and Chief Executive Officer Devin Wenig said in a statement.

Qualcomm did not provide full-year estimates, but analysts' consensus full-year estimates call for EPS of $4.64 and revenues of $23.8 billion. Segment operating income rose 179% to $475 million.

Qualcomm said revenue was $5.02 billion, down 9.6 percent year over year. However operating income also decreased, coming down from $1.4 Billion last year to just $0.7 Billion this year.

Total reported sales of licensed devices increased by 18% year over year to $82.6 billion.

The quarter included a $974 million reduction to revenue, or 48 cents per share, related to the BlackBerry arbitration decision, Qualcomm said on Wednesday.

Qualcomm still expects its acquisition of NXP Semiconductors to close by the end of 2017.

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Qualcomm forecast current-quarter adjusted profit of $0.90-$1.15 per share and revenue of $5.3 billion-$6.1 billion.

Qualcomm stated that Apple's contract manufacturers reported but underpaid royalties during the second quarter. Our guidance range for fiscal Q3 EPS is wider than our typical practice primarily due to this uncertainty. However, our 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 under our Cooperation Agreement (that expired Dec 31, 2016) that are now in dispute.

"We will continue to protect the value of our technologies, which enables today's robust mobile communications ecosystem, and invest in R&D that will drive the leading edge of mobile computing and connectivity for decades to come - focusing on areas where our technologies will have the most impact and generate the best returns", Mollenkopf said in a statement.

In the long run, Arcuri said Qualcomm "appears to have a strong case, and Apple's record in winning similar litigation is poor". These legal actions will take time to play out, but some negative side effects are already being felt.

Qualcomm's market share in China is expected to increase to 65 percent this year from 50 percent in 2016, with share gains in OPPO, Vivo, Xiaomi and Meizu, Rosenblatt Securities analyst Jun Zhang wrote in a note. It's not a done deal yet, but Qualcomm remains confident that any hurdles will be overcome.

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