QUALCOMM, Inc. Beats EPS Guidance, Zynga Inc Shares Fall On Weak Guide


Qualcomm and Zynga released their latest earnings reports after closing bell tonight. Qualcomm reported earnings of $1.28 per share on $6.2 billion in sales, compared to the consensus estimates of $1.13 per share in earnings and $5.84 billion in revenue. The chip maker had guided for earnings of $1.05 to $1.15 per share and revenue of $5.4 billion to $6.2 billion. In the same quarter last year, Qualcomm reported adjusted earnings of 91 cents per share and $5.5 billion in revenue.

Zynga posted losses of 5 cents per share on $182.4 million in revenue, against the consensus estimates of 1 cent per share in earnings and $187.23 million in revenue. In the same quarter a year ago, the game maker broke even on $195.7 million in revenue.

Qualcomm guides weak

Qualcomm’s GAAP earnings rose to $1.07 per share from 67 cents per share in last year’s fourth fiscal quarter. Net income jumped to $1.6 billion from $1.1 billion in the year-ago quarter.

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The chip maker shipped about 211 million MSM chips during the quarter, compared to 203 million in last year’s fourth quarter. QCT revenues came in at $4.1 billion, compared to $3.6 billion last year. Qualcomm’s QTL revenues rose to $1.9 billion from $1.8 billion last year. The company estimates its 3G/4G device shipments at 401 million to 405 million, compared to the year-ago quarter’s shipments of 276 million o 280 million.

Qualcomm expects first quarter earnings to be between $1.12 and $1.22 per share, which is weak compared to the consensus of $1.22 per share. The chip maker expects sales of $5.7 billion to $6.5 billion for the quarter, compared to the consensus of $6.15 billion. Wall Street consensus stands at $4.78 per share in adjusted earnings and $23.74 billion in sales for fiscal 2017.

Shares of Qualcomm jumped by as much as 0.46% to $67.40 in after-hours trades.

Zynga shares tumble on weak outlook

Zynga’s monthly active user base declined to 66 million from 75 million a year ago. Analysts had been expecting 66.5 million. Average daily users declined to 18 million from 19 million, although the number matched consensus.

For the fourth quarter, Zynga expects a loss of 3 cents per share, compared to the consensus of 1 cent per share in earnings. The game maker expects revenue to be between $180 million and $190 million versus the consensus of $205 million.

Shares of Zynga tumbled by as much as 5.11% to $2.60 in after-hours trades.

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