Qualcomm (QCOM) Tops Q2 EPS by 15c; Guides In-Line

Qualcomm (NASDAQ: QCOM) reported Q2 EPS of $1.34, $0.15 better than the analyst estimate of $1.19. Revenue for the quarter came in at $6 billion versus the consensus estimate of $5.9 billion.

"We delivered strong results this quarter, with healthy year-over-year growth across our QTL licensing and QCT semiconductor businesses, especially in the important automotive, networking and IoT growth areas,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “Our performance reflects continued execution of our strategy to lead the mobile industry across a broad set of technologies, including advanced LTE and 5G, and accelerate our growth opportunities beyond mobile into automotive, IoT, security and networking.”

Mr. Mollenkopf added, “We will continue to protect the value of our technologies, which enables today’s robust mobile communications ecosystem, and invest in R&D that will drive the leading edge of mobile computing and connectivity for decades to come - focusing on areas where our technologies will have the most impact and generate the best returns. With our leading technology roadmap and pending acquisition of NXP, we are positioned to address a larger set of opportunities ahead than any other time in our history.”

Sees Q3 EPS of $0.90-$1.15 versus the consensus of $1.10. Sees Q3 revenue of $5.3-$6.1 billion, versus the consensus of $5.95 billion.

For earnings history and earnings-related data on Qualcomm (QCOM) click here.

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