QUALCOMM (QCOM) Q2 Income and Revenue Surge, Guidance Raised
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Price: $159.41 -0.83%
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Equipment and services: 4.16B
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BTTX, VAXX, ELYS, More
Financial Fact:
Equipment and services: 4.16B
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of QUALCOMM (Nasdaq: QCOM) are stronger after-hours Wednesday following better-than-expected second-quarter results and raised 2011 financial guidance.
QUALCOMM's second-quarter revenue rose 46 year-over-year and 16 percent sequentially to $3.88 billion, versus the Wall Street consensus of $3.62 billion.
Earnings per shares rose 46 percent y-o-y and 5 percent sequentially to $0.86, easily beating the analyst estimate of $0.80.
QUALCOMM sees third-quarter EPS of $0.68-$0.72, versus the consensus of $0.69, and revenue of $3.35-$3.65 billion, versus the consensus of $3.39 billion.
For the year, the company raised its EPS guidance from $2.91-$3.05 to $3.05-$3.13. Revenue guidance was raised from $13.6-$14.2 billion to $14.1-$14.7 billion. The Street is currently looking for FY11 EPS of $3.04 on sales of $13.93 billion.
"We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide."
QUALCOMM's second-quarter revenue rose 46 year-over-year and 16 percent sequentially to $3.88 billion, versus the Wall Street consensus of $3.62 billion.
Earnings per shares rose 46 percent y-o-y and 5 percent sequentially to $0.86, easily beating the analyst estimate of $0.80.
QUALCOMM sees third-quarter EPS of $0.68-$0.72, versus the consensus of $0.69, and revenue of $3.35-$3.65 billion, versus the consensus of $3.39 billion.
For the year, the company raised its EPS guidance from $2.91-$3.05 to $3.05-$3.13. Revenue guidance was raised from $13.6-$14.2 billion to $14.1-$14.7 billion. The Street is currently looking for FY11 EPS of $3.04 on sales of $13.93 billion.
"We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide."
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