Qualcomm and AT&T released the earnings results from their most recently completed quarters after closing bell tonight. Qualcomm reported adjusted earnings of $1.40 per share on sales of $6.9 billion for its second fiscal quarter of 2015. Analysts had been expecting the chip maker to report earnings of $1.33 per share on $6.83 billion in revenue for the quarter. In the same quarter a year ago, Qualcomm reported earnings of $1.31 per share on $6.37 billion in revenue.
AT&T reported adjusted earnings of 63 cents per share on revenue of $32.6 billion for its first fiscal quarter of 2015. Analysts had been looking for earnings of 62 cents per share on $32.8 billion in revenue for the quarter. In the same quarter a year ago, the telephone company posted earnings of 67 cents per share on $32.5 billion in revenue.
Key metrics from Qualcomm’s earnings report
Qualcomm’s GAAP earnings were 63 cents per share for the March quarter. The GAAP result includes the Qualcomm Strategic Initiatives segment, compensation, acquisition and other items.
Qualcomm shipped 233 million MSM chips during the quarter, compared to 188 million in the same quarter a year ago. Total reported device sales were $75.8 billion, compared to $66.5 billion in the same quarter last year. The chip maker reported between 384 million and 388 million 3G/4G device shipments and an average selling price of between $193 and $199 for those devices.
The company cut its guidance for its semiconductor business due to more customer share shifts in the premium tier, which is reducing sales of the Snapdragon processors and a decline in its share at a large customer.
The chip maker expects revenue for the current quarter to be between $5.4 billion and $6.2 billion, which would be a decline of between 9% and 21%. Qualcomm projects non-GAAP earnings of between 85 cents and $1 per share and GAAP earnings of between 67 cents and 82 cents per share.
Key metrics from AT&T’s earnings report
AT&T’s net earnings were 61 cents per share compared to 70 cents in the same quarter a year ago. The company reported revenue of $2.6 billion for its strategic business services segment, a 15.4% increase after adjusting for the Connecticut wireline sale. The segment now makes up 32% of AT&T’s total wireline business revenues.
The company reported about 1.2 million branded smartphone adds, including 700,000 prepaid subscribers. AT&T recorded 1.2 million total wireless net adds, including 441,000 postpaid and 684,000 connected cars. Postpaid churn rate was 1.02%, the best ever for the first quarter. Revenues from the wireline consumer business were $5.7 billion.