The third quarter of the year ended on June 26th, which means it’s about that time for companies to start announcing their earnings for that quarter. For Qualcomm, that was actually their third fiscal quarter (their fiscal year runs October 1st through September 30th). Today, they announced their earnings for the quarter, which were headlined by revenues of $6 billion for the quarter. Their operating income was $1.6 billion, Net Income of $1.4 billion, diluted earnings per share of $0.97 and operating cash flow of $1.8 billion for the quarter. All of these are increases from the previous quarter and previous year.
Some other interesting numbers include 201 million MSM chips shipped, that’s down from 225 million year-over-year but up from 189 million shipped last quarter. Their total reported device sales amounts to $62.6 billion for the quarter, up 4% year-over-year, but down 11% from last quarter. They are estimating about 321-325 million 3G/4G devices shipped within the quarter. Qualcomm noted in their press release today that the total reported device sales for the third quarter also include some from the prior quarter, from a small number of licensees in China, which were not reported before.
Qualcomm Incorporated’s CEO, Steve Mollenkopf stated that his company “delivered strong results this quarter, with EPS well ahead of our guidance based on meaningful progress with licensees in China. Our chipset business is also benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China.”
When it comes to Qualcomm’s Business Outlook, the company expects to report $5.4 to $6.2 billion in revenues for the fourth quarter. Additionally GAAP diluted earnings per share are expected to be $0.84 to $0.94. As far as their metrics go, MSM chip shipments are estimated between 195 and 215 million for the quarter, with reported device sales of $57 to $65 billion. Showing that their outlook doesn’t appear to be much different from what they reported this quarter. Keep in mind that their fiscal Q4 is actually June 27th through September 25th. While their first quarter for Fiscal 2017 should be their biggest quarter, since it covers the holiday season, and that is typically a huge quarter for most technology companies.
If you are interested in seeing the full report from Qualcomm, you can do so by hitting up the source link below. Overall, it appears to be a pretty strong quarter for the company, definitely needed after a pretty mediocre 2015.