Qualcomm, Inc. (QCOM - Free Report) just released its second quarter fiscal 2016 earnings results, posting earnings of $0.89 per share and revenue of $5.54 billion.
Currently, QCOM has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
1. Beat earnings estimates. The company posted earnings of $0.89, surpassing our Zacks Consensus Estimate of $0.82. This number excludes $0.11 from non-recurring items.
2. Beat revenue estimates. The company saw revenue figures of $5.54 billion, topping our consensus estimate of $5.296 billion but reflecting a -20% year-over-year change.
3. Reported non-GAAP net income of $1.6 billion.
4. Announced it has settled its arbitration dispute with LG, and that it has struck a 3G/4G patent licensing deal with Chinese OEM Hisense.
5. QCOM was up $0.53, or 1.02%, to $52.62 as of 4:48 PM ET in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Qualcomm’s Street EPS & Surprise Percent:
Qualcomm develops and delivers innovative digital wireless communications products and services based on the company's CDMA digital technology. The company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless applications development platform; Eudora e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar system and wireless fleet management systems, OmniTRACS and OmniExpress.
Check back later for our full analysis on Qualcomm’s second quarter earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>