-=Qualcomm (QCOM) reported earnings on Wed 6 Nov 19 (a/h)

Qualcomm beats by $0.07, beats on revs; guides Q1 EPS in-line, revs in-line

Reports Q4 (Sep) earnings of $0.78 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.71; revenues fell 17.2% year/year to $4.8 bln vs the $4.71 bln S&P Capital IQ Consensus.

Co issues in-line guidance for Q1, sees EPS of $0.80-0.90, excluding non-recurring items, vs. $0.84 S&P Capital IQ Consensus; sees Q1 revs of $4.4-5.2 bln vs. $4.95 bln S&P Capital IQ Consensus.

QTL revenues in the fourth quarter and fiscal 2018 included $100 mln and $600 mln, respectively, received under an interim agreement with Huawei. QTL revenues in fiscal 2019 included $450 mln paid under a second interim agreement with Huawei that concluded in the third quarter of fiscal 2019, and although negotiations continue, we have not reached a final agreement with Huawei. This represents a minimum, non-refundable amount and does not reflect the full amount of royalties due under the underlying license agreement.