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Qualcomm raises FY outlook again after strong Q2
2013-04-25 08:39:00| Telecompaper Headlines
(Telecompaper) Qualcomm raised its outlook for annual results after reporting strong figures for the March quarter. The chipmaker recorded revenues of USD 6.12 billion in its fiscal second quarter, up 24 percent year-over-year and 2 percent sequentially. MSM shipments reached 173 million units, up 14 percent from a year ago and down 5 percent from the fourth quarter. Operating profit improved 24 percent from a year earlier to USD 1.88 billion, while net profit fell 16 percent to USD 1.87 billion or USD 1.06 per share. The figures were at the top of the company's earlier guidance. Operating cash flow rose 17 percent to USD 2.22 billion, and Qualcomm finished March with a total USD 30.5 billion in cash. For the third quarter, the company forecast sales up 25-36 percent to USD 5.8-6.3 billion and EPS up 16-28 percent to USD 0.80-0.88. The company said it sees strong demand for its Snapdragon 600 and 800 processors as well as higher shipments in the overall mobile market. Full-year sales are expected to increase 26-31 percent to USD 24-25 billion, versus an earlier outlook of USD 23.4-24.4 billion, and the forecast for annual EPS was increased to USD 3.78-3.93 from USD 3.61-3.81. Qualcomm also raised its forecast for 3G/4G device shipments over the calendar year 2013, to 1.015-1.085 billion from 1.00-1.07 billion previously.
Tags: strong
outlook
raises
q2
Category:Telecommunications
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