Qualcomm results fall as Apple withholds royalties

News Wireless Global 20 JUL 2017
Qualcomm results fall as Apple withholds royalties
Qualcomm reported lower results for its fiscal third quarter to June, hurt by its dispute over licensing payments from Apple. Revenues fell 11 percent year-on-year to USD 5.4 billion, and net profit was down 40 percent to USD 0.9 billion or 58 cents a share. 

The results are in line with the chipmaker's reduced guidance, issued in late April after Apple's contract manufacturers stopped paying royalties. The lack of information from these customers meant Qualcomm did not report figures on device shipments for the quarter.

For fiscal Q4, Qualcomm forecast revenues flat to 13 percent lower year-on-year, at USD 5.4-6.2 billion. EPS is expected to drop 39-49 percent to USD 0.55-0.65. MSM shipments are expected to increase slightly year-on-year to 205-225 million and also be up from 187 million in the previous quarter.

Categories:

Mobile

Companies:

Apple,  Qualcomm

Regions:

Global

Tags:

Semiconductors, Handsets

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