Qualcomm, Inc. Crushes Earnings Estimates

Qualcomm, Inc. Crushes Earnings Estimates
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Qualcomm, Inc. (NASDAQ:QCOM) released its earnings for the three months through June on the afternoon of Wednesday July 23 after the market closed on Wall Street. The company showed earnings of $1.44 per share for the three month period on revenue totaling $6.81 billion. On today’s market shares in the chip-maker trended up to finish the day trading at $81.60.

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The quarterly report, for what Qualcomm, Inc. (NASDAQ:QCOM) refers to as its third of the fiscal year 2014, was expected to show earnings of $1.21 per share from the quarter. The company’s revenue was expected to come in at $6.5 billion according to the same consensus numbers. The numbers were gathered from a Businessweek survey of 33 analysts following the company in the run up to the release of these numbers.

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Qualcomm waits for iPhone numbers

Apple Inc. (NASDAQ:AAPL) released its earnings yesterday afternoon, and, being one of the biggest sources of revenue for Qualcomm, Inc. (NASDAQ:QCOM), it might have been supposed that the firm’s numbers would move Qualcomm stock today. Apple, however, refused to give off any hint of a surprise when it released those earnings numbers. Shares in Qualcomm have remained stable today as a result.

The same may be true of market reaction to this afternoon’s earnings report. However the market takes these numbers, the third fiscal quarter is far from the most important in the Qualcomm, Inc. (NASDAQ:QCOM) calendar. With a new iPhone to appear before the end of the current quarter, the company is probably shipping a lot of chips right now.

The shipments that supply the apparently massive iPhone 6 order won’t show up until the company’s next quarterly report. That means that those looking for the real growth at Qualcomm will have to wait another three months to see it. That doesn’t mean there’s nothing of value in today’s report, however, but we may have to wait until later in 2014 to see the real impact of the company’s most recent manoeuvrings.

Qualcomm continues growth on mobile boom

Qualcomm, Inc. (NASDAQ:QCOM) has benefited handsomely from the boom in mobile baseband chips in recent years, and the company’s full chipsets for smartphones have formed the base of may of the world’s most prominent smartphones. The company’s shares have increased in value by more than 70% in the last five years. As the mobile boom slows down, however, it’s difficult to see what direction the company might look in for growth.

Qualcomm, Inc. (NASDAQ:QCOM) hasn’t revealed any major plans just yet, but the company is sure to be a player in the wearable technology market that’s sure to take off whenever Apple Inc. (NASDAQ:AAPL) gets around to releasing the iWatch. The company may also become part of the “internet of things” boom, another speculaive wave of technology changes set to hit the world in the coming years.

Whatever the future of Qualcomm, Inc. (NASDAQ:QCOM), the company is taking care of its shareholders in the here and now. The firm has been using its humungous cash pile to buy back some of its own shares, thereby returning value to its shareholders.

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