Qualcomm Surprises, Again (QCOM)

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By Douglas A. McIntyre Published

Qualcomm Inc. (NASDAQ: QCOM) is seeing a very positive reaction this morning after the company raised guidance. 

The company sees earnings at $0.54 to $0.55 EPS, above its prior targets of $0.50 to $0.52 EPS.  Its Revenues are now expected to be above its earlier estimates of $2.5 to $2.7 Billion.  On last look, First Call had estimates at $0.52 EPS on $2.61 Billion in revenues.

The CDMA chip royalty company now sees Q3 results to be better than anticipated on increased demand for its next-generation cell phones and other devices now that it shipped 86 million Mobile Station Modem chips.

Shares are up over 3.5% at $47.94 in early trading, and its 52-week trading range is $35.17 to $49.50.

Jon C. Ogg
June 12, 2008

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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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