Cristiano Amon, president and CEO of Qualcomm, speaks through the Milken Institute Global Conference on May 2, 2022, in Beverly Hills, Calif.
Patrick T. Fallon | AFP | Getty Images
Qualcomm shares fell 5% in prolonged buying and selling on Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings however provided poor first-quarter steering.
Here’s how the corporate did:
- Earnings: $3.13 per share, adjusted, vs. $3.13 per share as anticipated by analysts, based on Refinitiv.
- Revenue: $11.39 billion, adjusted, vs. $11.37 billion as anticipated by analysts, based on Refinitiv.
Overall income grew 22% year-over-year within the quarter that ended Sept. 25, based on an announcement.
With respect to steering, Qualcomm referred to as for fiscal first-quarter adjusted earnings of $2.25 to $2.45 per share on $9.2 billion to $10 billion in income. Analysts polled by Refinitiv had anticipated earnings per share of $3.42 and income of $12.02 billion.
“Given the uncertainty caused by the macroeconomic environment, we are updating our guidance for calendar year 2022 3G/4G/5G handset volumes from a year-over-year mid-single-digit percentage decline, to a low double-digit percentage decline,” Qualcomm mentioned within the report.
“The rapid deterioration in demand and easing of supply constraints across the semiconductor industry have resulted in elevated channel inventory.”
Revenue in Qualcomm CDMA Technologies, or QCT class, which incorporates smartphone chips, radio frequency front-end elements, automotive chips and web of issues gadgets, totaled $9.9 billion. That was up 28%, and it is greater than the $9.87 billion consensus amongst analysts polled by StreetAccount.
Within the QCT section, income from cell handsets got here to $6.6 billion, up 40% and a hair above the StreetAccount consensus of $6.59 billion.
The Qualcomm Technology Licensing, or QTL, section produced $1.44 billion in income, which was up 8% however decrease than the $1.58 billion StreetAccount consensus.
During the quarter, Qualcomm mentioned it had prolonged a patent-licensing settlement with Samsung by means of 2030, and Arm, whose chip architectures Qualcomm depends on, filed swimsuit in opposition to Qualcomm over breach of license agreements and trademark infringement.
Notwithstanding the after-hours transfer, Qualcomm shares are down 37% up to now this 12 months, whereas the broader S&P 500 index is down 20% over the identical interval.
Executives will focus on the outcomes with analysts on a convention name beginning at 4:45 p.m. ET.
This is breaking information. Please test again for updates.
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Source: www.cnbc.com”