Qualcomm
on Wednesday issued an earnings report that largely exceeded
expectations and said it sees continued strong growth buoyed by
expansion of 3G and 4G phones to more parts of the world.
For the quarter ending Sept. 29, Qualcomm said that it earned and adjusted $1.05 per share, including a 10-cent-per-share litigation charge. Even with the charge, it said earnings were within its guidance and it would have exceeded the high end of its expectations had it not been for the charge. On the revenue side, the company took in $6.48 billion, up 33 percent from a year ago, and above the midpoint of its guidance.
The company slightly hiked its forecast for this year for total 3G and 4G device shipments, saying it now expects about 1.1 billion such devices to ship, with calendar year 2014 shipments seen somewhere between 1.22 to 1.3 billion units, a roughly 15 percent increase based on the midpoint of that range.
“Looking forward, we expect continued strong growth of 3G and 3G/4G multimode devices around the world, particularly in China with the anticipated launch of LTE, CEO Paul Jacobs said in a statement. “Qualcomm remains well positioned from a growth standpoint, and we expect double-digit compound annual growth rates for both revenues and earnings per share over the next five years.”
For the quarter ending Sept. 29, Qualcomm said that it earned and adjusted $1.05 per share, including a 10-cent-per-share litigation charge. Even with the charge, it said earnings were within its guidance and it would have exceeded the high end of its expectations had it not been for the charge. On the revenue side, the company took in $6.48 billion, up 33 percent from a year ago, and above the midpoint of its guidance.
The company slightly hiked its forecast for this year for total 3G and 4G device shipments, saying it now expects about 1.1 billion such devices to ship, with calendar year 2014 shipments seen somewhere between 1.22 to 1.3 billion units, a roughly 15 percent increase based on the midpoint of that range.
“Looking forward, we expect continued strong growth of 3G and 3G/4G multimode devices around the world, particularly in China with the anticipated launch of LTE, CEO Paul Jacobs said in a statement. “Qualcomm remains well positioned from a growth standpoint, and we expect double-digit compound annual growth rates for both revenues and earnings per share over the next five years.”
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