Wednesday, November 4th, 2009
Qualcomm Q4 profit slips nine per cent, full-year earnings plunge 50 per cent
SAN DIEGO - Qualcomm Inc. says its fourth-quarter profit slipped nine per cent as revenue from the mobile phone technology it licenses and mobile-phone chips it makes declined.
Qualcomm, based in San Diego, said Wednesday earnings for the three months ended Sept. 27 fell to US$803 million, or 48 cents per share, from $878 million, or 52 cents per share, in the same period last year.
Revenue declined 19 per cent to $2.7 billion from $3.3 billion in the year-ago quarter, which matched Wall Street's expectations, according to Thomson Reuters.
For the full financial year, Qualcomm's profit plunged 50 per cent to $1.6 billion, or 95 cents per share, from $3.2 billion, or $1.90 per share in 2008.
Revenue slipped seven per cent to $10.4 billion from $11.1 billion last year, but still matched analysts' expectations.
For the current first quarter, the company forecast a profit of 41 cents to 45 cents per share on $2.6 billion to $2.8 billion in revenue. Analysts are looking for first-quarter revenue of $2.8 billion.
Qualcomm predicted full-year earnings of $1.56 to $1.76 per share on revenue of $10.5 billion to $11.3 billion.
