GO
Loading...

Enter multiple symbols separated by commas

Qualcomm Narrowly Beats Earnings Forecast

Qualcomm reported earnings of 43 cents a share, just above analysts' estimates, but results were mixed as quarterly sales came in at $2.02 billion, below forecasts.

The San Diego-based wireless equipment maker was expected to post earnings of 42 cents a share on sales of $2.07 billion, according to a consensus estimate compiled by Thomson Financial.

Looking ahead, Qualcomm issued fiscal 2007 earnings guidance of $1.72 to $1.77 a share, compared with the consensus estimate of $1.78.

Qualcomm shares initially rose 2.4% to $39.53, from its close of $38.62 on Nasdaq after the company reported results.

Qualcomm faces several legal disputes including a flurry of lawsuits over patent infringement involving rival chipmaker Broadcom, and regulatory complaints in Europe from other rivals.

Qualcomm is also in negotiations with Nokia, the world's biggest cell phone maker, over a technology license pact that expires in April.

Qualcomm is the biggest supplier of chips based on CDMA, a wireless technology used in the United States and other countries. It also sells technology licenses and chips based on
W-CDMA, a mobile phone standard gaining popularity in Europe.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Safety in US equity market: Trader

    Discussing crude oil's decline and the impact China and Greece have on the market, with Dan Greenhaus, BTIG; FM trader Guy Adami; Axel Merk, Merk Investments; and CNBC's Sara Eisen.

  • Stick with quality in this market: Pro

    Discussing the trade on equities, with Chris Retzler, Needham Fund Manager, and JJ Kinahan, TD Ameritrade.

  • US market still attractive: Acampora

    The play on geopolitical issues, with Ralph Acampora of Altaira Limited, who finds financials, tech and health care still attractive sectors in the U.S.