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Telecom & Wireless

ASP’s Hit QUALCOMM (QCOM)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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QUALCOMM Inc. (NASDAQ: QCOM) has just posted $0.54 non-GAAP EPS on $2,75 billion in revenues versus the Thomson Reuters targets of $0.52 EPS  and $2.73 billion in revenues.  Unfortunately, the company’s effective tax rate was 25% for the quarter and is expected to reach 33% for its Fiscal 2009 period.  Cash and equivalents were approximately $15.7 billion at the end of the quarter.

For 2009, the company is targeting operating earnings of $2.34 to $2.44 billion  and pro forma operating net at $3.30 to $3.4 billion.  The revenues were raised to a range of $10.25 to $10.45 billion from a prior range of $9.85 to $10.25 billion.  Estimates are $1.80 non-GAAP EPS and $10.39 billion in revenues.

The ASP was put at $189 for its fourth quarter and $199 on average for the whole of 2009.  That signals further declines a disappointment from prior targets.  For the year, we still have a targeted handset device shipments targeted at 540 to 590 million.  Based on a 565 million midpoint, that was listed as 217 million CDMA units and 348 million WCDMA units.

Shares closed up almost 1% at $48.45 today and the after-hours session has shares trading under $47.00.

JON C. OGG

Contact [email protected] for any questions or corrections.

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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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