Qualcomm (QCOM) Squeezes By, Just

April 23, 2008 by Douglas A. McIntyre

Qualcomm (QCOM) the tech company involved in more intellectual property litigation that any other, posts just OK earnings.

Revenue hit $2.61 billion, up 17 percent year-over-year. Net income inched higher to $766 million, up 6 percent year-over-year. And diluted earnings per share moved to $0.47, up 9 percent year-over-year.

For the next quarter the company said revenue would rise 8% to 16% compared with $2.33 billion last year. Qualcomm expects CDMA/WCDMA device shipments for the quarter will rise to over 105 million from 86 million from a year ago and that prices will rise slightly.

The company said "The fundamental drivers of our business remain strong, and based on the current business outlook, we are raising fiscal 2008 revenue and earnings per share guidance."

None of that seemed to help much with investors. The stock was up a little over 1% after hours.

Douglas A. McIntyre