Wednesday, July 20, 2011

Qualcomm Inc. (NASDAQ: QCOM): Q3 2011 Earnings Roundup

Qualcomm Inc. (NASDAQ: QCOM) reported Wednesday that its fiscal third quarter profit rose 35% to $1.04 billion, or 61 cents per share, from  $767 million, or 47 cents a share, in the prior-year quarter. On an adjusted basis, the company earned 73 cents in the latest quarter. Revenue rose to $3.62 billion from $2.70 billion. Analysts, on average, expected the company to report earnings of 71 cents per share on revenue of $3.59 billion. 

Looking ahead to the fourth-quarter of 2011, the company said that it expects revenues to be in the range of $3.86 billion to $4.16 billion, GAPP Earnings to be in the range of 60 cents to 65 cents per share and Non-GAAP Earnings of 75 cents to 80 cents per share. 

The company lifted its fiscal 2011 non-GAAP earnings per share guidance to a range of $3.15 to $3.20 from prior forecast of $3.05 to $3.13 per share. The company lowered its fiscal 2011 GAAP earnings outlook to a range of $2.50 to $2.55 per share, from prior outlook of $2.51 to $2.59. The company boosted its fiscal 2011 revenues outlook to a range of $14.7 billion to $15.0 billion from prior forecast of $14.1 billion to $14.7 billion.

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