Qualcomm Quarterly Earnings Show Net Income Up 4% YoY

Qualcomm has announced the results from the quarter ending June 27th. The reported numbers are not exactly spectacular but according to Dr. Paul E. Jacobs, the CEO at Qualcomm, the growth has been healthy and will result in the company raising its fiscal year estimates for the year. Qualcomm has reported an overall revenue of […]

Qualcomm has announced the results from the quarter ending June 27th. The reported numbers are not exactly spectacular but according to Dr. Paul E. Jacobs, the CEO at Qualcomm, the growth has been healthy and will result in the company raising its fiscal year estimates for the year.

Qualcomm has reported an overall revenue of $2.71 billion that is technically 2% down YoY but is 2% up sequentially. The operating income too has shown a similar trend. At $792 million, it is down 11% YoY but has risen by 2% on a sequential basis.

The net income for the company fell 4% YoY while the operating cash flow – at $951 million – noted a fall of 13% YoY. Clearly, the investors have not been very enthused. The shares of Qualcomm (NASDAQ:QCOM) fell 1.61% in intra-day trading yesterday. However, there is an after-market rise of 5.09%. It will be interesting to see how the market fares once the day begins.