(By Salman - iStockAnalyst Writer)Qualcomm Inc. (NASDAQ:
QCOM) is scheduled to release fiscal fourth quarter earnings after the market close on Wednesday, November 4, 2009. Analysts, on average, currently expect the company to report earnings of 52 cents a share on revenue of $2.72 billion. In the year ago quarter, the company reported earnings of 20 cents per share on revenue of $2.517 billion.
Qualcomm Incorporated designs, manufactures, and markets digital wireless telecommunications products and services based on its code division multiple access (CDMA) technology and other technologies. The company operates in four segments: Qualcomm code division multiple access technologies, Qualcomm Technology Licensing, Qualcomm Wireless and Internet, and Qualcomm Strategic Initiatives. The company expects to report fourth quarter revenue in the range of approximately $2.55 billion to $2.75 billion.
In July, Qualcomm Inc. reported that its third-quarter net income fell slightly $737 million or $0.44 per share, compared to $748 million, or $0.45 per share, in the year-ago quarter. On a Pro forma basis, net income for the quarter dropped to $903 million or $0.54 per share, compared to $915 million or $0.55 per share, in the prior-year quarter. Quarterly revenue remained flat at $2.75 billion, compared to $2.76 billion in the prior year quarter. Pro forma revenue for the quarter was $2.74 billion, compared to $2.76 billion in the prior year quarter. Analysts, on average, expected the company to report earnings of 52 cents per share on revenue of $2.71 billion for the fourth quarter.
Qualcomm shipped approximately 94 million chipsets in third quarter-a record shipment level, representing a 36% increase quarter-over-quarter and a 9% over the same period last year.
The company has benefited from growing trend towards connected mobile computing and increasing demand for 3G broadband services. According to wireless intelligence 3G subscribers grew 28% year-over-year to approximately 830 million as of June. The 3G enabled handsets are forecast to be over 60% of total handsets shipped in 2012.
The company in July boosted its fiscal 2009 revenue outlook to a range of $10.25 billion to $10.45 billion from previous estimate in the range of $9.85 billion to $10.25 billion. It expects pro forma operating income for fiscal 2009 to be in the range of $3.3 billion to $3.4 billion, an increase of approximately $250 million to $350 million above its prior outlook. The company anticipates that between 540 million and 590 million CDMA devices will be shipped in 2009. The 565 million mid point represents an 18% year-over-year increase.
