This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Qualcomm Dips on Dim Outlook

Qualcomm (QCOM - Get Report) beat targets but pegged guidance below Wall Street estimates.

The San Diego wireless tech shop posted a fiscal fourth quarter pro forma profit of 54 cents a share, up from 42 cents in the year-ago quarter. For fiscal 2007, Qualcomm recorded adjusted earnings of $2.01 a share, up 22% over the $1.64 profit last year.

Analysts were looking for quarterly pro forma earnings of 53 cents a share and a fiscal profit of $2, according to Yahoo Finance.

Sales for the quarter were $2.31 billion, which is down slightly from the prior quarter, but up 15% from the year-ago level. For the year, sales hit $8.87 billion, an 18% increase over last year.

Analysts expected fiscal fourth-quarter sales of $2.26 billion and $8.83 billion for the year.

"We delivered another record performance in fiscal 2007 because our employees and partners continue to provide industry leading innovative wireless products and services," CEO Paul Jacobs said in a press release.

Looking ahead, Qualcomm expects to earn 51 cents a share on sales of $2.35 billion in the fiscal first quarter. For the year, Qualcomm guided for adjusted profit of $2.06 cents a share on $9.75 billion in revenue.

Analysts were looking for an adjusted first-quarter profit of 52 cents and $2.18 a share for the fiscal year. And the company expects sales to be $2.38 billion in the current quarter and $9.84 billion for the year.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BRCM $44.34 -1.30%
NOK $7.83 -2.90%
QCOM $71.51 0.82%
AAPL $126.87 0.36%
FB $80.01 -1.50%

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs