Qualcomm's EPS surge to $0.42 in Q4

Wednesday, 06. November 2019 22:02

Qualcomm Inc. announced on Wednesday that its diluted earnings per share in the fourth quarter of 2019 stood at $0.42, improving from a loss per share of $0.36 recorded in the same period last year and topping market estimates. Revenue dropped 17% year on year to $4.8 billion and net income amounted to $500 million.

For full fiscal 2019, the semiconductor maker's revenue jumped 7% to $24.3 billion compared to fiscal 2018, while diluted EPS stood at $3.59, compared to a loss per share of $3.39 in the previous 12-month period. Net income for the full year was $4.4 billion.

"We delivered a strong quarter, with Non-GAAP earnings per share above the high end of our guidance range, primarily on solid performance in our QTL segment," CEO Steve Mollenkopf stated. "We exit the fiscal year having successfully executed on our strategic priorities: helping to drive the commercialization of 5G globally, completing a number of important anchor license agreements and executing well across our product roadmap. Our technology and inventions leave us extremely well positioned as 5G accelerates in 2020," he added.

Qualcomm shares soared 4.81% in after-hours trading on better-than-expected results.

Related Links: Qualcomm Inc.
Breaking the News / NP