Qualcomm Guides Up, Earnings Beat
January 31, 2019
Qualcomm reported results for its fiscal first quarter ended December 30, 2018.
The firm reported earnings per share of $1.20 with expectations set at $1.09 per share. Qualcomm noted revenue of $4.82 billion. But wall street was looking for revenue of $4.9 billion.
The semiconductor company guided adjusted second-quarter earnings per share of between 65 cents and 75 cents on revenue of between $4.4 billion and $5.2 billion. Investors modeled earnings of 68 cents per share on revenue of $4.8 billion.
“Our fiscal first quarter results reflected continued strength in our semiconductor business, driven by strong product leadership and operating expense management,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We continue to execute on our strategic objectives, including driving the global transition to 5G, protecting the established value of our technology and inventions and expanding into new industries and product categories.”