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Qualcomm profit falls less than expected, sees better H2

Wednesday 27 January 2016 | 23:01 CET | News
Qualcomm reported a smaller-than-expected drop in profit for its fiscal first quarter to December, citing strong 3G/4G device shipments and its cost-cutting efforts. Revenues were still down 19 percent year-on-year to USD 5.8 billion, while net profit dropped 24 percent to USD 1.5 billion. EPS declined 15 percent to USD 0.99, a smaller drop than the 23-32 percent forecast earlier by the company. For fiscal Q2, Qualcomm forecast a further drop in sales, of 17-29 percent on an annual basis to USD 4.9-5.7 billion. EPS is expected to improve 10-25 percent from a year earlier to USD 0.90-1.00,

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Categories: Mobile & Wireless
Companies: Qualcomm
Countries: World
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