Next up from my list is Qualcomm, who I pointed out was responsible for the cellular chip (especially with the top of the line LTE chips). Due to space, I omitted discussion about their own SoC's like the Snapdragon which is powering many of the top Android phones. Well QCOM just pointed their earnings yesterday after the close, and as expected, they got a huge boost from the new mobile industry. QCOM stock is up 8% after the report.
Earnings in the current period will be 90 cents to 98 cents a share on revenue of $5.6 billion to $6.1 billion, San Diego- based Qualcomm said yesterday in a statement. Analysts on average had projected net income of 86 cents on sales of $5.33 billion, according to datacompiled by Bloomberg.
Unlike chipmakers such as Intel Corp., which are being hurt by slack personal-computer sales, Qualcomm is benefiting as consumers in developed nations snap up the newest phones and as those in emerging markets upgrade their devices, Chief Executive Officer Paul Jacobs said. The company also is pulling in more license revenue from its technology standards that provide high- speed data connections in smartphones.
“Qualcomm has absolutely been one of the prime beneficiaries in smartphones and tablets,” said Mike Burton, an analyst at Brean Capital LLC. “This is a very strong report.”