İstanbul escort bayan sivas escort samsun escort bayan sakarya escort Muğla escort Mersin escort Escort malatya Escort konya Kocaeli Escort Kayseri Escort izmir escort bayan hatay bayan escort antep Escort bayan eskişehir escort bayan erzurum escort bayan elazığ escort diyarbakır escort escort bayan Çanakkale Bursa Escort bayan Balıkesir escort aydın Escort Antalya Escort ankara bayan escort Adana Escort bayan

60.9 F
San Diego
Saturday, May 18, 2024
-Advertisement-

Qualcomm Stock Rises 4 Percent After Earnings Report

Shares of Qualcomm Inc., traded under QCOM on Nasdaq, were up more than 4 percent to $58.54 on July 19, following the company’s release of its third quarter results which included both higher revenue and net profit than a year earlier.

For the quarter ended June 24, Qualcomm reported revenue of $4.63 billion, up 28 percent from the like quarter of 2011.

Net income was $1.21 billion, up 17 percent year over year.

For the nine months, Qualcomm reported revenue of $14.2 billion, up 31 percent from the like period of 2011. Net income for the period was $4.8 billion, up 51 percent from the prior year’s nine months.

The stellar financials were dampened somewhat by a forecasted slower fourth quarter due to issues with getting various chip components from outside suppliers.

Qualcomm said it expects to generate fourth quarter revenue in a range of $4.45 billion to $4.85 billion, and operating earnings per share of 78 to 84 cents.

For the full fiscal year that ends in September, Qualcomm said it anticipates total revenue to finish in a range of $18.7 billion to $19.1 billion. Its previous guidance for annual revenue was a high of $19.7 billion. In 2011, Qualcomm did nearly $15 billion in revenue.

Operating per share earnings were forecast in a range of $3.61 to $3.67, down from a previous forecasted range of $3.61 to $3.76.

Qualcomm continues to amass a significant cash trove, reporting holding cash and marketable securities of $26.5 billion, up from $20.2 billion for the like quarter of 2011.

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-
-Advertisement-