Qualcomm (QCOM): Everything That Can Go Wrong, Does Go Wrong
November 6, 2008 by Douglas A. McIntyre
Thomson Reuters estimates for CDMA giant Qualcomm (QCOM) were for $0.60 EPS and $2.86 billion in revenue. Reported revenue was $3.33 billion, up 45 percent year-over-year. Reported net income was $878 million, down 22 percent year-over-year. Earnings per share were $0.52, down 22 percent year-over-year.
Next quarter estimates are $0.61 EPS and $2.91 billion in revenue .New company guidance was for profit of $.46 to $.50. Revenue forecast was $2.3 billion to $2.5 billion.
Qualcomm missed on almost every number which is important. Shares were down about 10% after hours to $31.18 after dropping 6% in the regular session.
Douglas A. McIntyre
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