=Qualcomm (QCOM) raises Q1 EPS guidance

** charts before guidance **





 ** charts after guidance **





Qualcomm (QCOM) just raised Q1 EPS guidance; co is seeing a stronger quarter relative to prior guidance as 3G/4G device ASPs and shipments are favorably impacting the licensing business, and benefits are being realized from cost actions throughout the Company.

Qualcomm believes current structure best positions itself following comprehensive review; raises Q1 EPS Guidance :

• Co's Board of Directors and mgmt, with the assistance of independent advisors, have completed a comprehensive review of the Company's corporate and financial structure. This review, driven by a Special Committee of the Board of Directors, addressed the benefits and challenges of the existing structure, as well as considered a wide range of alternatives for potentially enhancing stockholder value. Following the review, upon the unanimous recommendation of the Special Committee, the Board unanimously concluded that the Company's current corporate and financial structure best positions Qualcomm to maintain its technology leadership and product strength, so as to drive the greatest long-term stockholder value.
• Co now expects to be at or modestly above the high end of the non-GAAP earnings per share guidance range $0.80-0.90 for Q1 (vs. $0.87 consensus). The co expects to provide a comprehensive review of its results, an update on China licensing progress and its outlook on the January earnings call.