Qualcomm: No Party This Quarter

Posted: April 25, 2007 at 3:16 pm

Wall St. didn’t love Qualcomm’s (QCOM) numbers.

Revenues:  $2.22 billion, up 21 percent year-over-year and 10 percent sequentially.
Net income:  $726 million, up 22 percent year-over-year and 12 percent sequentially.

And, next quarter guidance:

Revenue at $2.2 to $2.3 billion up 13% to 18%, with EPS from $.43 to $.45 up 16% to 20%.

Wall St. expected better from a tech giant and leader in the cell phone chip field. Investors gave in to despair and dropped the shares almost 2% after hours.

Douglas A. McIntyre

Read more: Wireless