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☆ Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones
▼ + stars: | 2024-05-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported second-quarter earnings on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter. Qualcomm said it expected between $8.8 billion and $9.6 billion in sales in the current quarter, higher than Wall Street expectations of $9.05 billion. Analysts were looking for earnings guidance of $2.17 per share, versus the company's forecast of between $2.15 and $2.35. Qualcomm called out strong demand for "premium tier" smartphones that require the most advanced chips, especially in China. Qualcomm said that revenue from Chinese phone makers increased 40% on an annual basis during the quarter.

Persons: Cristiano Amon, Amon, — Organizations: Qualcomm Locations: Las Vegas , Nevada, iPhones, China

☆ Qualcomm earnings beat estimates as smartphone chip sales suggest recovery
▼ + stars: | 2024-01-31 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fiscal first-quarter results on Wednesday that topped analysts' estimates as sales of handset chips jumped 16% from a year earlier. Consensus expectations, according to LSEG, were for earnings of $2.25 per share on $9.3 billion of revenue. Qualcomm is best-known for making smartphone chips — both the modems that connect them to cellular networks, as well as the processors at the heart of high-end Android devices. QCT, the company's chip sales business that includes automotive, Internet of Things and handsets, totaled $8.42 billion in revenue during the quarter, up 7% on an annual basis. Qualcomm said it spent $800 million in share repurchases and $900 million on dividends during the quarter.

Persons: Cristiano Amon, it's, Amon Organizations: Qualcomm, Galaxy, Apple Locations: Las Vegas , Nevada, QCT

☆ Qualcomm gives strong forecast, signaling chip slump recovery
▼ + stars: | 2023-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fourth-quarter earnings on Wednesday that beat expectations for sales and earnings, despite big year-over-year declines, and gave a strong forecast for the current quarter. Net income during the quarter was $1.49 billion or $1.32 per share, a 48% decrease from last year's $2.87 billion or $2.54 per share. Revenue during the quarter declined 24% year-over-year from $11.39 billion last year. Handset chip sales declined 27% to $5.46 billion, above Street Account expectations of $5.34 billion. Qualcomm said it spent $400 million on share repurchases and $900 million on dividends during the quarter.

Persons: Cristiano Amon, They're, It's, Wall Organizations: Qualcomm Incorporated, CNBC, New York Stock Exchange, Qualcomm, Revenue, Qualcomm's Locations: New York, QCT

☆ Deutsche Bank downgrades Qualcomm as smartphone slump pressures chipmaker
▼ + stars: | 2023-08-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Deutsche Bank is moving to the sidelines on Qualcomm as a slump in the smartphone market puts pressure on the company. Analyst Ross Seymore downgraded the chipmaker's stock to hold from buy and cut his price target by $10 to $120. For the fiscal third quarter quarter, the company posted $8.44 billion in adjusted revenue, while analysts polled by Refinitiv forecasted $8.5 billion. J.P. Morgan analyst Samik Chatterjee maintained his overweight rating on Qualcomm, but lowered his December 2024 price target by $11 to $148. UBS analyst Timothy Arcuri maintained his neutral rating and $130 price target on the company.

Persons: Ross Seymore, Seymore, Meta —, Morgan, Samik Chatterjee, Timothy Arcuri, — CNBC's Michael Bloom Organizations: Deutsche Bank, Qualcomm, Apple, Huawei, Refinitiv, Meta, Edge, UBS Locations: Wednesday's, IoT

☆ Qualcomm sales and forecast come up light as smartphone chip sales fall 25%
▼ + stars: | 2023-08-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported third-quarter earnings on Wednesday that beat Wall Street expectations, but revenue and guidance for the fourth quarter came up short. Here's how the chipmaker did for the quarter ending on June 25:Earnings : $1.87 per share, adjusted, versus $1.81 per share expected by Refinitiv consensus estimates. : $1.87 per share, adjusted, versus $1.81 per share expected by Refinitiv consensus estimates. Revenue: $8.44 billion, versus $8.5 billion expected by Refinitiv consensus estimates. QCT, Qualcomm's biggest division that sells processors for smartphones, cars, and other smart devices, reported $7.17 billion in sales, down 24% on an annual basis.

Persons: Cristiano Amon Organizations: Qualcomm, Qualcomm's, Meta, Quest, San Diego, San Diego Union, Tribune Locations: Las Vegas , Nevada, China, QCT

☆ Qualcomm gives light forecast, phone chip sales fall 17%
▼ + stars: | 2023-05-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Analysts were expecting current-quarter earnings guidance of $2.16 per share, but Qualcomm said it expected it that to be around $1.80. Qualcomm reported second-quarter earnings on Wednesday that were in line with analyst expectations but saw sales from handset chips, a core business for the company, decline 17% on an annual basis. The biggest part of QCT's sales come from handset chips, which are the processors at the heart of most Android phones. Qualcomm reported $6.11 billion in handset sales, down 17% from last year. Qualcomm said it made $900 million in share repurchases and paid $800 million in dividends during the quarter.

☆ Qualcomm's disappointing guidance on slow China recovery will force our hand on the stock
▼ + stars: | 2023-05-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Revenue in the quarter fell about 17% year-over-year to $9.27 billion, beating analysts' forecasts of $9.1 billion, according to Refinitiv. In the quarter, Qualcomm won 12 new designs across its Snapdragon Cockpit and Snapdragon Connectivity 5G platforms with automakers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Qualcomm revenue falls 12%, guidance implies more pain this quarter
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv. Qualcomm's overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. In the quarter Qualcomm and Renault Group announced an extension of their collaboration and said Qualcomm would invest in Ampere, the automaker's electric and software company.

Here's the Club's condensed earnings reaction for Starbucks, Ford Motor and Qualcomm. Guidance Starbucks' fiscal 2023 guidance remains unchanged, CFO Rachel Ruggeri said on the company's earnings call, despite continued headwinds related to China's Covid recovery. Ford Motor Quarterly commentary Ford Motor (F) reported a messy fourth quarter Thursday, with adjusted earnings per share coming in well below Street expectations and overshadowing a topline revenue beat. F 5D mountain Ford (F) 5-day performance Guidance Ford said Thursday it expects full-year adjusted earnings before interest and taxes to total between $9 billion and $11 billion. Qualcomm Quarterly commentary Qualcomm 's (QCOM) fiscal 2023 first-quarter earnings topped analysts' estimates Thursday, despite lighter-than-projected revenues in the three months ended Dec. 25.

☆ There's no good reason to allocate more capital to chipmaker Qualcomm right now
▼ + stars: | 2022-11-02 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

This represents a significant long-term opportunity for the company beyond handsets: Management estimates a total addressable market opportunity in automotive of $100 billion by 2030. There isn't a good reason to prioritize the allocation of capital to the semiconductor industry right now. Segment results Qualcomm reports results in two primary segments, Qualcomm CDMA Technologies (QCT) and Qualcomm Technology Licensing (QTL). Radio frequency front-end : $992 million, a decrease of 20%, versus $1.04 billion expected. Internet of things (IoT): Record revenues of $1.92 billion, up 24%, versus $1.83 billion expected, with growth driven by edge networking and industrial.

Qualcomm shares fell 7% in extended trading on Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings but offered poor first-quarter guidance. Here's how the company did:Earnings: $3.13 per share, adjusted, vs. $3.13 per share as expected by analysts, according to Refinitiv. $3.13 per share, adjusted, vs. $3.13 per share as expected by analysts, according to Refinitiv. Revenue: $11.39 billion, adjusted, vs. $11.37 billion as expected by analysts, according to Refinitiv. With respect to guidance, Qualcomm called for fiscal first-quarter adjusted earnings of $2.25 to $2.45 per share on $9.2 billion to $10 billion in revenue.

☆ Qualcomm's first auto investor day offers signs the industry is embracing its tech platform
▼ + stars: | 2022-09-22 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

The estimated figure stems from Qualcomm's deals with auto companies that it expects to translate into sales in future years. Its booming auto pipeline and additional tie-ups with vehicle original equipment manufacturers (OEMs) offer more evidence that the industry is embracing its automotive platform. More Club thoughts Thursday's auto event has been circled on our calendars because it goes to the heart of our investment thesis in the company: revenue diversification. Nonetheless, the market has not been kind to Qualcomm's stock price this year, sending it down by more than 30%, as investors jumped ship over fears of a smartphone slowdown and higher interest rates. Qualcomm's stock closed down 0.75% on Thursday, at $123.68 a share.

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