Stock Market Watch

Qualcomm’s Q4 Profit Rises 22%; Shares Soar in After-Hours Trading (QCOM)

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QualcommQualcomm Inc. (NASDAQ: QCOM), after-market close today, released its fourth-quarter financial results. The San Diego, California-based company reported a 22% increase in its fourth-quarter profit, pushing shares sharply higher in after-hours trading today.

Qualcomm shares are up 9.68% to $57.23 in after-hours trading today. The stock had risen 4.07% to $52.18 in regular trading.


Qualcomm, which designs, manufactures and markets digital wireless telecommunications products and services, continued to benefit from sales of smartphones in the fourth quarter. The company also said that it is benefiting from the adoption of cell phones that use faster 3G cellular networks by consumers in emerging markets.

For the fourth quarter ended September 25, 2011, the company reported a profit of $1.06 billion, or $0.62 per share, compared with $865 million, or $0.53 per share reported for the same period in the previous year. The company’s revenue jumped 39% on a year-over-year basis to $4.12 billion in the fourth quarter of fiscal 2011.

Excluding one-time items, Qualcomm reported a profit of $0.80 per share. Analysts were expecting the company to report a profit of $0.78 per share and revenue of $4.01 billion.

Qualcomm CEO Dr. Paul E. Jacobs said that the breadth and depth of the company’s chipset roadmap, extensive licensing program and diverse set of global partnerships position it well for strong revenue and earnings growth in fiscal 2012.

For the first quarter of fiscal 2012, Qualcomm expects revenue to come in between $4.35 billion and $4.75 billion. The company expects diluted earnings per share of $0.86-$0.92 in the first quarter of fiscal 2012.

For fiscal 2012, the company expects revenue to come in between $18 billion and $19 billion. The company expects non-GAAP diluted earnings per share of $3.42-$3.62 in fiscal 2012.

 

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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