Qualcomm Awaiting Switch to Digital TV
Sramana Mitra submits:
On Thursday, Qualcomm (QCOM), one of the top semiconductor companies with annual revenue of $11.14 billion in 2008, reported mixed results for its first quarter as profits plunged 56% due to continued losses in financial investments as markets worsened.
Q109 revenue grew 3% y-o-y and was down 25% q-o-q to $2.52 billion on shipment of 63 million chipsets and about 125 million new CDMA devices by the company’s licensees. Net income was down 56% y-o-y and 61% q-o-q to $341 million, or $0.20 per share. Excluding charges, net income was $520 million or $0.31 per share. Street estimates were earnings of $0.47 per share on revenue of $2.42 billion.
Related Topics: 2008, earnings, LEC, losses, market, stocks, telecom