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Qualcomm (QCOM) Crushes Q2 Earnings and Revenue Estimates

Qualcomm, Inc. QCOM just released its second quarter fiscal 2016 earnings results, posting earnings of $0.89 per share and revenue of $5.54 billion.  

Currently, QCOM has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Qualcomm:                                            

1. Beat earnings estimates. The company posted earnings of $0.89, surpassing our Zacks Consensus Estimate of $0.82. This number excludes $0.11 from non-recurring items.

2. Beat revenue estimates. The company saw revenue figures of $5.54 billion, topping our consensus estimate of $5.296 billion but reflecting a -20% year-over-year change.

3. Reported non-GAAP net income of $1.6 billion.

4. Announced it has settled its arbitration dispute with LG, and that it has struck a 3G/4G patent licensing deal with Chinese OEM Hisense.

5. QCOM was up $0.53, or 1.02%, to $52.62 as of 4:48 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Qualcomm’s Street EPS & Surprise Percent:

Qualcomm develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress.

Check back later for our full analysis on Qualcomm’s second quarter earnings report!

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