January 31, 2018 / 9:48 PM / 19 days ago

BRIEF-Qualcomm Qtrly GAAP Shr Loss $4.03, Reflecting Tax Reform, European Commission Fine

Jan 31 (Reuters) - Qualcomm Inc:

* QTRLY GAAP LOSS PER SHARE $4.03, REFLECTING TAX REFORM AND EUROPEAN COMMISSION FINE

* QTRLY NON-GAAP EARNINGS PER SHARE $0.98

* QTRLY NON-GAAP REVENUE $‍​6.0 BILLION VERSUS $6.0 BILLION

* QTRLY GAAP REVENUE $‍​6.1 BILLION VERSUS $6.0 BILLION

* SEES Q2 EARNINGS PER SHARE $0.41 - $0.51

* SEES Q2 ADJUSTED EARNINGS PER SHARE $0.65 - $0.75

* SEES Q2 REVENUE $4.8 BILLION - $5.6 BILLION

* QUALCOMM - Q1 FISCAL 2018 & Q4 FISCAL 2017 GAAP & NON-GAAP RESULTS WERE NEGATIVELY IMPACTED BY CONTINUED DISPUTE WITH APPLE & CONTRACT MANUFACTURERS

* Q1 GAAP RESULTS INCLUDED $6.0 BILLION CHARGE, RELATING TO THE ENACTMENT OF THE TAX CUTS AND JOBS ACT‍​

* SEES Q2 QTL REVENUE $1.15 BILLION - $1.35 BILLION

* CURRENTLY ESTIMATE WILL PAY $3.3 BILLION FOR TOLL CHARGE, AFTER APPLICATION OF CERTAIN TAX CREDITS

* QUALCOMM - DID NOT RECORD ANY QTL REVENUES IN Q1 FISCAL 2018 OR Q4 OF FISCAL 2017 FOR ROYALTIES DUE ON SALES OF APPLE’S OR OTHER LICENSEE’S PRODUCTS

* SEES Q2 MSM CHIP SHIPMENTS 170 MILLION - 190 MILLION

* QTRLY QTL REVENUES $1,299 MILLION VERSUS $1,811 MLN‍​

* $3.3 BILLION FOR THE TOLL CHARGE IS PAYABLE IN INSTALLMENTS OVER EIGHT YEARS BEGINNING ON JANUARY 15, 2019

* QUALCOMM - FIRST QUARTER OF FISCAL 2018 GAAP RESULTS INCLUDED $1.2 BILLION CHARGE, OR LOSS OF $0.76 PER SHARE, FOR FINE IMPOSED BY EUROPEAN COMMISSION

* QUALCOMM - ON JANUARY 16, ANNOUNCED COST REDUCTION PLAN DESIGNED TO ALIGN COST STRUCTURE TO LONG TERM MARGIN TARGETS

* QUALCOMM - AS PART OF COST REDUCTION PLAN, WILL IMPLEMENT A SERIES OF TARGETED REDUCTIONS ACROSS BUSINESSES TO REDUCE ANNUAL COSTS BY $1 BILLION

* QUALCOMM - EXPECT COST REDUCTIONS TO BE FULLY CAPTURED IN FISCAL 2019 RESULTS

* QTRLY QCT REVENUE $4,651 MILLION VERSUS $4,101 MILLION

* Q1 EARNINGS PER SHARE VIEW $0.91, REVENUE VIEW $5.93 BILLION -- THOMSON REUTERS I/B/E/S

* Q2 EARNINGS PER SHARE VIEW $0.85, REVENUE VIEW $5.58 BILLION -- THOMSON REUTERS I/B/E/S

* QTRLY QTL REVENUE $1,299 MILLION VERSUS $1,811 MILLION

* QUALCOMM - NXP DEAL IS EXPECTED TO CLOSE IN EARLY CALENDAR 2018 Source text: (bit.ly/2BFUtp3) Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below