Qualcomm: No One Cares About The Quarter (QCOM)(NOK)(BRCM)
Thomson Financial says that Wall St. expected Qualcomm to do $.41 in the quarter on revenue of $1.97 billion. Bernstein Research predicted that QCOM would beat that because handset sales were strong in the third quarter.
But, most of that take a back seat to Qualcomm's negotiations with its largest customer, Nokia, and its patent battle with rival Broadcom. Those factors will define the company's future as a growth stock much more than a quarterly report.
After the close, Qualcomm reported revenue of $2 billion, up only 2% sequentially over last quarter. Net income was $614 million down 5% sequentially. And EPS of $.36.
Guidance was for revenue to be up 8% to 14% next year, if things go well with Nokia.
Wall St. was disappoint. QCOM's shares fell about 1% after hours to $36, near the bottom of its 52-week range.
The future is still cloudy.
But, most of that take a back seat to Qualcomm's negotiations with its largest customer, Nokia, and its patent battle with rival Broadcom. Those factors will define the company's future as a growth stock much more than a quarterly report.
After the close, Qualcomm reported revenue of $2 billion, up only 2% sequentially over last quarter. Net income was $614 million down 5% sequentially. And EPS of $.36.
Guidance was for revenue to be up 8% to 14% next year, if things go well with Nokia.
Wall St. was disappoint. QCOM's shares fell about 1% after hours to $36, near the bottom of its 52-week range.
The future is still cloudy.
posted by douglas mcintyre at 4:18 AM
Subscribe
<< Home