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Telecom & Wireless

Qualcomm (QCOM) Raises Forecasts

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By Douglas A. McIntyre Published
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It seems that its legal problems with the likes of Broadcom (BRCM) and Nokia (NOK) are not hurting Qualcomm’s (QCOM) short-term business. The company said it anticipates fourth fiscal quarter Qualcomm pro forma revenues to be at or slightly above the high end of the prior guidance of approximately $2.15 to $2.25 billion.

Qualcomm also stated pro forma diluted earnings per share will be approximately $0.52 to $0.53, compared to $0.42 in the year ago quarter. This estimate is based on the shipment of approximately 67 to 68 million Mobile Station Modem chips during the quarter as compared to its prior estimate of 65 to 68 million units. QCOM had anticipated fourth fiscal quarter Qualcomm pro forma diluted earnings per share of approximately $0.48 to $0.50.

With the company’s shares flat over the last six months, investors should welcome some good news in a sea of bad.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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