Qualcomm Powers Through $48 On Blowout Report |
| Forbes - Nov 4, 2010 |
Qualcomm ( QCOM - news - people )’s Q4 Profit, Q1 Forecast Beat View; Shares Surge: Mobile chip maker Qualcomm late Wednesday posted a better-than-expected fourth quarter profit and offered a first quarter forecast that beat expectations.
The San Diego-based company reported fiscal fourth quarter profit of $865 million, or 53 cents per share, compared with $803 million, or 48 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 68 cents per share. Revenue rose nearly 10% from last year to $2.95 billion. On average, Wall Street analysts expected a smaller adjusted profit of 59 cents per share, on lower revenue of $2.85 billion.
For the current fiscal first quarter, the company predicted profit to range from 70 to 74 cents per share, on revenue of $3.05 billion to $3.35 billion. Analysts currently expect 64 cents on $2.99 billion in revenue.
Read Full Article from Forbes
- Posted: 2010-11-04 10:33:34
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