Qualcomm released its third quarter financial report, with net profit down 40% year-on-year
Source: Content from Sina Technology , Thanks.
In the early morning of July 20th, Beijing time, Qualcomm released its third quarter financial report for fiscal year 2017. The report shows that Qualcomm's net profit in the third quarter was US$900 million, a 40% drop from US$1.4 billion in the same period last year; its revenue was US$5.4 billion, a 11% drop from US$6 billion in the same period last year. Qualcomm's third quarter results were basically in line with Wall Street analysts' expectations, but its earnings outlook for the fourth quarter was far below expectations, causing its stock price to fall by more than 2% after the market.
In the quarter ending June 25, Qualcomm's net profit was $900 million, down 40% from $1.4 billion in the same period last year and up 16% from $700 million in the previous quarter; diluted earnings per share were $0.58, down 40% from $0.97 in the same period last year and up 16% from $0.50 in the previous quarter. Qualcomm's operating profit in the third quarter was $800 million, down 51% from $1.6 billion in the same period last year and up 6% from $700 million in the previous quarter.
Excluding special one-time items (not in accordance with US GAAP), Qualcomm's net profit for the third quarter was $1.2 billion, down 28% from $1.7 billion in the same period last year and 38% from $2 billion in the previous quarter; diluted earnings per share were $0.83, down 28% from $1.16 in the same period last year and 38% from $1.34 in the previous quarter. This performance was in line with analysts' expectations. According to data provided by financial information provider FactSet, analysts had previously expected Qualcomm's third-quarter earnings per share to be $0.83.
Qualcomm's third-quarter revenue was $5.4 billion, down 11% from $6 billion in the same period last year and up 7% from $5 billion in the previous quarter. Not in accordance with US generally accepted accounting principles, Qualcomm's third-quarter revenue was $5.3 billion, down 12% from $6 billion in the same period last year and down 11% from $6 billion in the previous quarter. This performance was basically in line with analysts' expectations. According to data provided by FactSet, analysts had previously expected Qualcomm's third-quarter revenue to be $5.28 billion.
Qualcomm's revenue from equipment and services in the third fiscal quarter was $4.121 billion, up from $3.875 billion in the same period last year; revenue from licensing was $1.250 billion, down from $2.169 billion in the same period last year. Qualcomm's total operating costs and expenses in the third fiscal quarter were $4.598 billion, up from $4.452 billion in the same period last year. Among them, revenue costs were $2.488 billion, down from $2.534 billion in the same period last year; R&D expenses were $1.391 billion, up from $1.268 billion in the same period last year; sales, general and administrative expenses were $710 million, up from $620 million in the same period last year; other expenses were $9 million, down from $30 million in the same period last year.
Qualcomm CDMA Technology Group's revenue in the third quarter was $4.052 billion, up 5% year-on-year and 10% quarter-on-quarter; pre-tax profit was $575 million, up 58% year-on-year and 21% quarter-on-quarter. Qualcomm Technology Licensing Group's revenue in the third quarter was $1.172 billion, down 42% year-on-year and 48% quarter-on-quarter; pre-tax profit was $854 million, down 51% year-on-year and 56% quarter-on-quarter.
Qualcomm's operating cash flow in the third quarter was $100 million, compared with $1.8 billion in the same period last year and $800 million in the previous quarter. As of the end of the third quarter of fiscal 2017, Qualcomm held a total of $37.8 billion in cash, cash equivalents and marketable securities, compared with $31 billion at the end of the third quarter of fiscal 2016 and $28.9 billion at the end of the second quarter of fiscal 2017. In May 2017, Qualcomm issued unsecured floating rate and fixed rate bonds with a total principal amount of $11 billion.
Qualcomm's effective income tax rate for the third quarter was 1%, and its effective income tax rate not in accordance with US GAAP was 5%. Qualcomm expects its effective income tax rate for fiscal 2017 to be approximately 11%, and its effective income tax rate not in accordance with US GAAP to be approximately 14%.
Qualcomm returned a total of $1.1 billion in cash to shareholders in the third quarter of fiscal year 2017, including $844 million in cash dividends, or about $0.57 per share, and repurchased 5.2 million shares of common stock, returning $300 million in cash to shareholders. Qualcomm announced on July 13, 2017 that it would pay a cash dividend of $0.57 per share to shareholders, which will be paid on September 20, 2017 to shareholders of record as of the close of business on August 30, 2017.
Qualcomm expects revenue of $5.4 billion to $6.2 billion in the fourth quarter of fiscal 2017, down 13% to flat year-on-year from $6.2 billion in the same period last year, with the midpoint exceeding expectations; diluted earnings per share of $0.55 to $0.65, down 39% to 49% from $1.07 in the same period last year; diluted earnings per share not in accordance with US GAAP are $0.75 to $0.85, down 34% to 41% from $1.28 in the same period last year, with the midpoint falling short of expectations. According to a FactSet survey, analysts on average expect Qualcomm's fourth-quarter earnings per share to reach 93 cents and revenue to reach $5.51 billion.
On the same day, Qualcomm's stock price rose by $0.49 in regular trading on the Nasdaq, closing at $56.78, an increase of 0.87%. In the subsequent after-hours trading until 16:45 Eastern Time (4:45 Beijing Time on the 20th), Qualcomm's stock price fell by $1.15 to $55.63, a drop of 2.03%. In the past 52 weeks, Qualcomm's highest price was $71.62 and its lowest price was $51.05.
Today is the 1340th issue of content shared by "Semiconductor Industry Observer" for you, welcome to follow.
R
eading
Recommended reading (click on the article title to read directly)
★ Challenges that full-screen mobile phones bring to the supply chain
★ Can the semiconductor IP industry continue to develop healthily?
★ He spent hundreds of billions of dollars to create a world first for China
Follow the WeChat public account Semiconductor Industry Observation , reply to the keyword in the background to get more content
Reply Ambition , see "Apple's Ambition for a Chip Empire"
Reply Zhang Rujing , read "The Three Falls and Three Rise of Zhang Rujing, the Godfather of China's Semiconductor Industry"
Reply Domestic , see "The biggest beneficiary behind the rise of domestic mobile phones"
Reply to ASR and read "Behind ASR's Acquisition of Marvell MBU: A Love-Hate Story about RDA"
Reply to IC , read "Understanding the IC Industry Structure and Competitive Relationship in One Article"
Reply Exhibition , see "2017 Latest Semiconductor Exhibition and Conference Calendar"
Reply Submit your article and read "How to become a member of "Semiconductor Industry Observer""
Reply Search and you can easily find other articles that interest you!
Moore invites you to join the elite WeChat group
Hello, thank you for your long-term attention and support to the semiconductor industry observation! In order to facilitate the communication among elite experts, we have set up some professional and WeChat communication groups. You are welcome to join. We will also invite more than 100 technical experts who have shared technology and industry in Moore Live App to join the group and communicate with everyone. How to join the group: Long press the QR code, add the group owner as a friend, fill in the information required to join the group, and pull you into the group. (WeChat limits the number of friends added to 300 per day, please wait patiently)
Regional Group:
Shanghai, Shenzhen, Beijing, Jiangsu, Zhejiang, Xi'an, Wuhan, Chengdu, Chongqing, Hefei, Xiamen, Jinhua, Dalian, Taiwan, Singapore, Japan, South Korea, the United States, Europe, Moore live learning group.
Professional Group:
Analog RF design, EDA.IP, digital chip design, analog mixed signal design, layout, digital PR. verification, wafer manufacturing Fab, equipment EE, semiconductor materials, semiconductor equipment, packaging and testing, semiconductor investment, marketing, AE.FAE, embedded development, internship exchange, procurement, IC agent
Professional WeChat Group Rules:
1. Professional and efficient communication. It is recommended to change the group nickname when joining the group. The format is: company or school + position or major + Chinese or English. Please obey the management of the group owner. If you violate the rules multiple times, you will be asked to leave the communication group.
2. In principle, each person should join no more than 3 groups. The group owner will be responsible for synchronizing the discussion content in different groups. Since you have joined a group, please try to pin it to the top of the group and actively participate in the group discussion;
3. Group chats and discussions are limited to semiconductor professional content. Non-professional content is prohibited, especially health preservation, canvassing, WeChat business and other content. Advertising for your own company is limited to not causing disgust among group members;
4. The first 100 people are free. After 100 people, new members will receive a red envelope with any amount they want, just to get a good start. For every 100 additional group members, the group owner will send a group red envelope to celebrate, with the amount equal to the number of group members.
Click to read the original text and join the Moore Elite
京公网安备 11010802033920号