Qualcomm Net Income, Revenue Increase in Q4; Yearly Revenue Hits $25BThursday, November 7, 2013
Qualcomm Inc. reported fiscal 2013 fourth quarter net income of $1.5 billion, up 18 percent from the like quarter of 2012.
Revenue came in at $6.48 billion, up 33 percent from the like quarter.
For the chip maker’s full fiscal year ended Sept. 30, net income was $6.85 billion, up 12 percent year over year. Revenue for the full year was a record $25 billion, up 30 percent from the prior fiscal year.
While the metrics beat the company’s past results, the earnings on a per share basis came in below Wall Street analysts’ forecasts.
That didn’t deter the enthusiasm from CEO Paul Jacobs who predicted “double digit compound annual growth rates for both revenues and earnings per share over the next five years.”
One of the world’s largest wireless chip manufacturers, Qualcomm reported 190 million chip shipments in the fourth quarter, up 35 percent from the fourth quarter of 2012. For the full year, it did 716 million shipments, a 21 percent increase.
For next year’s first quarter, Qualcomm forecasts revenue to come in a range of $6.3 billion to $6.9 billion, up 5 percent to 15 percent year over year. Operating earnings per share were projected at a range of $1.10 to 1.20, down 5 percent to 13 percent from the like quarter of 2013.
Qualcomm set full year guidance in revenue at $26 billion to $27.5 billion, a gain of 5 to 11 percent annually. Operating earnings per share should finish the year between $4.95 to $5.15, a gain of 10 to 14 percent annually.