ASP’s Hit QUALCOMM (QCOM)
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…
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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
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