Executive Director Qualcomm Cristiano Amon speaks at the Computex Forum in Taipe, Taiwan, June 3, 2024.
Ann Wang | Reuters
Qualcomm reported on Wednesday better than expected fiscal results in the first quarter and issued strong guidelines for the current period.
Here’s how the chip manufacturer did compared to the estimation of LSEG consensus for a quarter ending on December 29:
- Earnings per share: $ 3,41, adapted, compared to $ 2.96
- Income: Estimated 11.67 billion USD compared to $ 10.93 billion
The revenue in the quarter increased 18% with $ 9.92 billion a year ago. The shares rose by 2% in extended trading.
For March, Qualcomm said he was expecting an income between $ 10.2 billion and $ 11 billion, which is at $ 10.34 billion in its middle point of Tops LSEG. The company expects an adapted earning between $ 2,70 and $ 2,90 per share. The midst of the range is higher than the Wall Street estimate of $ 2.69 per share.
Qualcomm said the net income increased by 15% to $ 3.18 billion, or $ 2.83 per share with $ 2.77 billion, or $ 2,46 per share, a year earlier.
The custom earning company has excluded items such as expected revenue that are a consequence of resolving disputes, items related to acquisition, as well as expenditure expenses and development.
All three main finals of Qualcomma for chips grew during a quarter. His QCT division, which includes sales from physical chips, has increased by 20% to $ 10.1 billion.
The most important market for Qualcomm is mobile mobile devices, which have increased to $ 7.57 billion on an annual basis. Analysts who surveyed the FactSet sought $ 7.04 billion at mobile devices sale or about 5% growth.
The fastest growing market for Qualcomm is his car business, which has increased $ 61% to $ 961 million in sales, as long -term contracts for the parts and software of the company are converted to recorded revenue.
Qualcomm recorded a great deal of customers’ demand in China for expensive smartphones “top-notch,” Cristiano Amon CEO told CNBC’s Kristina Partynelevelos. The company also benefited from the Samsung’s latest Galaxy device using the Qualcomm processors.
Qualcomm’s “IoT” includes small forces chips for industrial purposes as well as chips Qualcomm sales Target to power their headphones and their relatively new Snapdragon elite chips for Windows laptops. The first Qualcomm Laptop chips were published last year.
Revenue at IoT business has increased 36% during the quarter at $ 1.55 billion.
Qualcomm also has a license job, called QTL, where other technological companies pay it to access their intellectual ownership related to 5G and mobile technology. Qualcomm reported about $ 1.54 billion in a division sales and said he made offers with several Chinese smartphone manufacturers.
Qualcomm said he had paid $ 942 million in dividends and spent $ 1.8 billion on shares redemption during the quarter.
