Qualcomm Reports $6 Billion In Q1 Fiscal 2017 Revenues

Posted: Jan 26 2017, 5:57am CST | by , in News | Latest Business News


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Qualcomm reports $6 billion in Q1 fiscal 2017 revenues

Qualcomm earnings are up 23% year-over-year before taxes

Qualcomm has reported its earnings for Q1 fiscal 2017 and has posted significant growth compared to the same quarter of 2016. The company has reported Q1 fiscal 2017 revenues of $6 billion, GAAP EPS $0.46 and Non-GAAP EPS $1.19. The first fiscal quarter ended on December 25, 2016.

"We are pleased with the strong start to our fiscal year and the year-over-year earnings growth across both our semiconductor and licensing businesses," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "Looking ahead, the pending NXP acquisition accelerates our strategic transformation in the high growth areas of automotive, IoT, security and networking. We are very well positioned to lead as the semiconductor engine for the intelligent, connected world."

Mr. Mollenkopf added, "The recent legal and governmental actions against Qualcomm are at their core driven by commercial disputes. As we have done in the past, we will vigorously defend our business model and the value of a portfolio of technologies that has been so instrumental to the success of the mobile communications industry."

Breaking that revenue number out a bit more shows that operating income was $0.8 billion for the quarter with net income of $0.7 billion. Diluted earnings per share were $0.46 with operating cash flow of $1.4 billion. Net income for the quarter was $1.8 billion.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
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