SoylentNews is people

Title    Qualcomm's Good Quarter
Date    Friday April 21 2017, @01:41AM
Author    martyb
from the that's-only-two-bits dept.

An Anonymous Coward writes:

Qualcomm Inc., the biggest maker of chips used in mobile phones, said a push into new markets such as automotive and connected devices bolstered sales in the second quarter, helping relieve concerns that growth will be hurt by legal challenges in its licensing business.

[...] Qualcomm's net income in the fiscal second quarter, which ended March 26, fell to $749 million, or 50 cents a share. Excluding certain items, profit was $1.34 a share, compared with an average estimate of $1.19. Adjusted sales gained 8 percent to $5.99 billion. Analysts had predicted revenue of $5.87 billion.

[...] The results help validate Mollenkopf's decision to acquire NXP Semiconductor Inc. for $47 billion -- the biggest purchase in the company's history, due to close later this year -- to ease Qualcomm's reliance on the smartphone market. The semiconductor maker said its licensing business, which generates the majority of profit, didn't receive full royalty payments associated with phones sold by Apple Inc., which is suing Qualcomm, claiming the company abused its position to create a monopoly in chips. Qualcomm has countersued.

Original Submission


  1. "Original Submission" -

© Copyright 2018 - SoylentNews, All Rights Reserved

printed from SoylentNews, Qualcomm's Good Quarter on 2018-06-19 09:00:29