Qualcomm Incorporated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 24, 2017; Provides Earnings Guidance for the Second Quarter and Effective Income Tax Rate for Full Year of Fiscal 2018
January 31, 2018 at 09:06 pm
Share
Qualcomm Incorporated announced unaudited consolidated earnings results for the first quarter ended December 24, 2017. For the quarter, the company reported total revenues of $6,068 million against $5,999 million a year ago. Operating income was $29 million against $778 million a year ago. Loss before income taxes was $27 million against income of $870 million a year ago. Net loss attributable to the company was $5,953 million or $4.03 basic and diluted per share against net income of $682 million or $0.46 diluted per share a year ago. Net cash provided by operating activities was $1,762 million against $1,586 million a year ago. Capital expenditures were $226 million against $129 million a year ago. On non-GAAP basis, the company reported revenues of $6.0 billion against $6.0 billion a year ago. Operating income was $1.6 billion against $2.1 billion a year ago. Net income was $1.5 billion or $0.98 diluted per share against $1.8 billion or $1.19 diluted per share a year ago.
The company provided earnings guidance for the second quarter and full year of fiscal 2018. For the quarter, the company expects revenues in the range of $4.8 billion - $5.6 billion, GAAP diluted earnings per share in the range of $0.41 - $0.51, non-GAAP diluted EPS in the range of $0.65 - $0.75.
The company's fiscal 2018 annual effective income tax rates are estimated to be 297% for GAAP and 8% for Non-GAAP.
Qualcomm, Inc. specializes in the design, development, and marketing of CMDA systems and software. The CDMA technique consists of using a broad spectrum to broadcast code transmissions on numerous mobile communication frequencies. Net sales break down by activity as follows:
- sale of communication systems (83.8%): CDMA systems (integrated circuits, software and systems for wireless voice and data transmission, as well as multimedia functions), and wireless communication and Internet access systems (products intended for data transmission, satellite communications, decrypting activities, etc.);
- sale of licenses (16.2%): intended for manufacturers using CDMA technologies.
Net sales are distributed geographically as follows: the United States (3.3%), China and Hong Kong (63.6%), Vietnam (13.7%), South Korea (7.2%) and other (12.2%).
Qualcomm Incorporated Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 24, 2017; Provides Earnings Guidance for the Second Quarter and Effective Income Tax Rate for Full Year of Fiscal 2018