=Qualcomm (QCOM) reported earnings on Wed 20 Jul 2016 (a/h)

Qualcomm beats by $0.19, beats on revs; guides Q4 EPS in-line, revs in-line :

• Reports Q3 (Jun) earnings of $1.16 per share, $0.19 better than the Capital IQ Consensus of $0.97; revenues rose 2.9% year/year to $6 bln vs the $5.58 bln Capital IQ Consensus.
  • MSM chip shipments were 201 mln vs 225 mln in prior year; total reported device sales $62.6 bln vs. $60.4 bln in prior year.
• Co issues in-line guidance for Q4, sees EPS of $1.05-1.15 vs. $1.08 Capital IQ Consensus Estimate; sees Q4 revs of $5.4-6.2 bln vs. $5.73 bln Capital IQ Consensus Estimate.
  • Sees MSM chip shipments of 195-215 mln and total reported device sales of $57.0-65.0 bln.
• "We delivered strong results this quarter, with EPS well ahead of our guidance based on meaningful progress with licensees in China," said Steve Mollenkopf, CEO of Qualcomm Incorporated
• "Our chipset business is also benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China. We are executing well on our strategic priorities, and we remain confident that our focused investments in 5G and other advanced technologies will create a strong foundation for long-term earnings growth."