The chipmaker posted stronger-than-expected fourth-quarter earnings, and said near term revenues would exceed Wall Street forecasts following its recent licensing agreement with Apple Inc. (AAPL) - Get Report .
Qualcomm (QCOM) - Get Report said non-GAAP earnings for the three months ending in September, its fiscal fourth quarter, were pegged at 78 cents per share came in at an adjusted cents 78, down 12.4% from the same period last year but firmly ahead of Wall Street estimates of 71 cents per share. The group's adjusted operating margin, Qualcomm said, was 22.9%, beating expectations of 22.5%. Revenue for the quarter came in at $4.8 billion, against beating analysts expectations of $4.756 billion even as the total fell 17% from last year, reported TheStreet's Martin Baccardax.
Qualcomm said current quarter revenue is likely to rise to between $4.4 billion and $5.2 billion, just ahead of the consensus forecast of $4.82 billion. Qualcomm said the guidance excludes QTL royalty revenue from China-backed handset maker Huawei Technologies. The group also expects non-GAAP adjusted EPS for the quarter of between 80 cents and 90 cents per share, far better than analysts' expectation of 81 cents per share.
TheStreet's Tony Owusu and our London Bureau Chief, Martin Baccardax, weighed in on how Apple and Qualcomm are becoming intertwined.
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