Thursday, January 31, 2013

QCOM beats estimates

On January 30th, 2013 Qualcomm released it's first quarter earning release stating  record quarterly revenues. Qualcomm beat analysts predictions of  $5.9 billion in revenue and earnings of $1.13 per share. Their revenues were $6.02 billion up 29% year over year and 24% from last quarter. Earnings were reported at $1.91 billion or $1.09 per share. Operation income was up 69% at $2.09 billion and net income was up $1.91 billion up 50%. Qualcomm posted a record 182 million chip shipments in the quarter, ahead of analysts forecast of about 175 million shipments. “We are off to an excellent start in 2013, and I’m pleased to report a record quarter driven by strong year-over-year growth in both our Qualcomm CDMA Technologies and Qualcomm Technology Licensing businesses.Long forward, we believe our long-term growth drivers remain intact. Smart phone adoption remains strong,” said Chief Executive Paul Jacobs in the conference call. Qualcomm also raised their yearly forecasts sales from $23.4 billion to $24.4 billion and their earning between $4.25 and $4.45. Qualcomm's has a technical lead over competitors in high-speed 4G technology that is gaining them more market share in smart phones and tablets that I feel will continue to grow as the year progresses.

Kristen Pfaffe - Technology Sector Junior Analyst

No comments: