CORRECTED - Chipmaker Qualcomm's revenue falls 9.6 percent
Royalties on iPhone sales lately have accounted for about 12% of Qualcomm's total revenue and as much as 30% of its per-share earnings, according to Srini Pajjuri of Macquarie Capital.
For the second quarter, the company expects net revenue to be between $2.28 billion and $2.32 billion and non-GAAP earnings to be between 43 cents and 45 cents per share. eBay expects full-year non-GAAP earnings for this year to be between $1.98 and $2.03 per share, which is somewhat light against the consensus of $2.02 per share.
Qualcomm forecast current-quarter adjusted profit of $0.90-$1.15 per share and revenue of $5.3 billion-$6.1 billion. Six analysts surveyed by Zacks expected $5.88 billion.
Revenues rose 8.1% from previous year to $5.99 billion, also topping analysts' view for $5.86 billion. QCT revenues rose to $3.7 billion on 179 million MSM chip shipments.
Qualcomm's market share in China is expected to increase to 65 percent this year from 50 percent in 2016, with share gains in OPPO, Vivo, Xiaomi and Meizu, Rosenblatt Securities analyst Jun Zhang wrote in a note.
Qualcomm's third-quarter guidance was negatively affected by concerns about certain clients who underpaid royalties.
Qualcomm reported lower revenue and net income on Wednesday for its fiscal second quarter, with results weighed down by a refund in patent royalties to BlackBerry. Qualcomm has also provided a wide range of guidance for its next fiscal quarter because of the ongoing legal battle...
Schlafly: Trump's "Buy American, Hire American"
The order also asks federal agencies to look at how to get rid of loopholes in the government procurement process. His businesses also have hired foreign workers, including at his Palm Beach, Fla., club.
Qualcomm continued to collect some royalties for Apple's use of its wireless technology in iPhones past year despite dueling lawsuits between the two mobile giants, cheering Qualcomm investors who feared that the payments had entirely dried up.
Qualcomm CEO Steve Mollenkopf, said, "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".
QUALCOMM, Inc. shares rose $1.39 (+2.64%) to $54.00 in after-hours trading Wednesday.
Qualcomm stock is up 89 cents, or 1.7%, at $53.50. However, our revenues were not negatively impacted as the contract manufacturers acknowledged the amounts are due and the underpayment was equal to the amounts that Qualcomm has not paid Apple under our Cooperation Agreement that are now in dispute.
Timothy Green owns shares of NXP Semiconductors.
Qualcomm has appealed the South Korean fine, is seeking dismissal of the FTC lawsuit and has countersued Apple.
Bixby can be run on older Samsung smartphones but unofficially
The front camera's sensor comes with a face-scanning feature that will unlock the device once it recognizes the owner's face. While the S8's facial recognition might not be particularly secure, it's not the phone's only biometric security measure.
The election is on. Prepare for seven weeks of solid Corbyn-bashing
Theresa May warned that Jeremy Corbyn is "simply not fit to lead" today as MPs prepared to sign off on holding a snap election. It will also, she hopes, mean that Labour will be much reduced, as the polls suggest Jeremy Corbyn's party will be.
Rickey Henderson released the Sharks before an National Hockey League playoff game
Couture's second goal at the 12:52 mark chased Edmonton goalie Cam Talbot , who had shut out the Sharks in games two and three. Defensively, the San Jose Sharks are allowing 2.4 goals per game and are killing 80.7 percent of their opponents power plays.
General Election 2017: Labour "relish" snap election
Former Conservative leader William Hague says if Mrs May were to win the poll it could help during Brexit talks with Brussels . An early election would therefore be the fourth big vote in four years starting with the general election of 2015.
Jakarta rejects Christian governor, early results show
He has regularly berated civil servants as corrupt and incompetent in contrast to his squeaky clean, "can-do" style of management. Supporters of Mr Basuki have accused his political opponents of orchestrating the demonstrations to sabotage his campaign.
Apple Self-Driving Car Project is Alive
The permit allows Apple to begin testing up to three 2015 Lexus SUVs similar to the type that Google uses for its autonomous cars. Some of the new hires came from companies such as Ford and Tesla , who are also researching self-driving technology.
American Midstream Partners LP (AMID) Upgraded at Zacks Investment Research
The firm has "Buy" rating by Stifel Nicolaus given on Thursday, April 28. (NYSE:FLT) on Friday, August 14 with "Neutral" rating. Summit Midstream Partners, LP focuses on developing, owning and operating midstream energy infrastructure assets.
Petrol pumps Declares Holiday on Sundays from May 14
Similarly, on an average, 5,000 litres of petrol/diesel was sold a day in one fuel outlet. He claimed that a decision on closing the pumps would be taken only then.
Akzo Nobel unveils plan to separate chemicals arm, pay special dividend
The Dutch company, which employs around 46,000 people, declined comment on possible job losses resulting from its plans.
VA testing partnership with CVS to reduce veterans' wait times
The program is a new effort created to alleviate the exorbitant wait times veterans face when seeking care at VA facilities. There are 24 "Minute Clinics" in the Phoenix area, where veterans can go and get immediate care for illnesses and injuries.
Apr 20 2017