ShukriMahadi

QCOM time to fly higher?

Long
NASDAQ:QCOM   QUALCOMM INC
Qualcomm expects to generate an estimated $1.8 billion in revenues. The company is poised to record royalty revenue from Huawei starting in its fourth fiscal quarter.

Looking ahead, Qualcomm provided guidance for fourth-quarter adjusted revenue to be in a range of $5.5 billion and $6.3 billion, versus analysts’ estimates of $5.78 billion. EPS in the current quarter is forecast to be in a range of $1.05 to $1.25. The guidance includes an impact of greater than $0.25 reflecting the reduction in handset shipments as a result of COVID-19, including a partial impact from the delay of a 5G flagship phone launch, the company added.

“As 5G continues to roll out, we are realizing the benefits of the investments we have made in building the most extensive licensing program in mobile and are turning the technical challenges of 5G into leadership opportunities and commercial wins,” said Qualcomm CEO Steve Mollenkopf. “We delivered earnings above the high end of our range, continued to execute in our product and licensing businesses and entered into a new long-term patent license agreement with Huawei, all of which position us well for the balance of 2020 and beyond.”

Qualcomm said that during the third quarter of fiscal 2020, it returned $843 million to stockholders, including $733 million, or $0.65 per share, of cash dividends paid and $110 million through repurchases of 1.6 million shares of common stock.

Shares in Qualcomm have recouped all of this year’s earlier losses and are now up almost 6% year-to-date.

Comments

Good call!
+1 Reply
@gdowns gud luck!
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