(Updates with comments from the CEO at paragraph 11).
April 20 (Bloomberg) - Qualcomm Inc., the large manufacturer of mobile phone chips, reported profit in the second quarter which overcame the estimates of analysts, citing demand growing for smartphones. The shares jumped 5.3% in late trade.Net income attributable to the Qualcomm is passed to 999 million, or 59 cents per share, of 774 million, or 46 cents a year earlier, the company said today in a statement. Sales increased 46 per cent to 3.88 billion. Excluding certain expenses, gains were 86 cents. Analysts had predicted 80 cents a share on revenue of 3.62 billion, according to data compiled by Bloomberg.Qualcomm is derive a change in consumer devices with more Internet functionality and applications, fueling demand for chips. The trend is also revenue licence of the undertaking arising from patents covering a wide swath of wireless technology. Said Qualcomm smartphone growth prompted the company to raise the annual expected today. "" It is a beat nice, solid and raise ", said Craig Berger, an analyst at FBR Capital Markets in New York, which has a rating on the stock" "outperform". "" " "Qualcomm has a tendency to crush their number of EPS, so estimates are likely to rise."Actions JumpQualcomm, based in San Diego, reached $2.93 $58.20 in extended trade. The shares rose by 12% this year, closed at $55.27 earlier on that the Nasdaq Stock Market.Profit this quarter will be 68 cents to 72 cents on the one hand, excluding certain items, with sales of $ 3.65 billion $ 3.35 billionsays Qualcomm. Analysts have an average of projected earnings of 69 cents and revenues of $ 3.4 billion.For the year, sales will be reaching as much as $ 14.7 billion, from a previous forecast up to $ 14.2 billion, Qualcomm said. Earnings will increase by as much as $3.13 per share, compared with a high end of $3.05 in earlier forecasts.In February, Apple Inc. has begun to offer a version of the iPhone by Verizon Wireless, which the network relies on the division of Qualcomm code or CDMA multiple access technology. Apple today announced that it has sold 18.7 million iPhone in the last quarter, more than double the number in the period of the previous year.While Qualcomm Gets the majority of its revenue from the sale of smart, he gets most of its profits for a licence. The company seeks to expand the scope of its chips with a product called Snapdragon.Android PhonesThat chip is now running smartphones that use the operating system Android from Google Inc. Qualcomm is also trying to sell it to the computer tablet manufacturers.Although some customers have been affected by the earthquake and tsunami in the Japan, last month "preliminary indications are decided as well enough up demand," CEO Paul Jacobs said in a telephone conference.The cost of smartphones fall is to let more consumers to upgrade traditional telephone handsets, generating a wave of growth for the company, said Jacobs, 48. "The investments we made in the past, I think that pays off well,"he says.(To hear a replay of conference call the company, visit LIVE-Editors: Nick Turner, Ward Jillian
To contact the reporters on this story: Ian King in San Francisco at ianking@bloomberg.net; Olga Kharif in Portland, Oregon, to the okharif@bloomberg.net
To contact the editor responsible for this story: Tom Giles to the tgiles5@bloomberg.net
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