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Qualcomm: Fiscal 4Q Earnings Snapshot

November 7, 2018

SAN DIEGO (AP) _ Qualcomm Inc. (QCOM) on Wednesday reported a fiscal fourth-quarter loss of $493 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the San Diego-based company said it had a loss of 35 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 90 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The chipmaker posted revenue of $5.8 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $5.53 billion.

For the year, the company reported a loss of $4.86 billion, or $3.32 per share, swinging to a loss in the period. Revenue was reported as $22.73 billion.

For the current quarter ending in January, Qualcomm expects its per-share earnings to range from $1.05 to $1.15.

The company said it expects revenue in the range of $4.5 billion to $5.3 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $5.28 billion.

Qualcomm shares have decreased slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. In the final minutes of trading on Wednesday, shares hit $63.21, a decrease of slightly more than 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QCOM at https://www.zacks.com/ap/QCOM

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