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Qualcomm quarterly profit falls 44%
2015-11-05 00:05:00| Telecompaper Headlines
(Telecompaper) Qualcomm reported a sharp fall in results for its fiscal fourth quarter to September, hurt by a slowdown in China sales after forced changes to its licensing practices there. Revenues declined 18 percent year-on-year to USD 5.5 billion. This was towards the high end of its outlook, as MSM shipments came in stronger than expected, helping offset the delays to agreeing new licences in China. Net profit dropped 44 percent to USD 1.1 billion, and EPS declined 40 percent to USD 0.67, also in line with the chipmaker's forecast. The result included USD 190 million in restructuring charges for the company's earlier announced strategic realignment plan. Qualcomm said it was on track to deliver the cost reductions planned for the next year and was also receiving a good reception for its new flagship processor, the Snapdragon 820. The company said it aims to "exit fiscal 2016 on an improved financial trajectory". However, the company said it would no longer give guidance for annual results and only provide a limited quarterly forecast. For fiscal Q1 of the new year, it expects a continued drop in results. with revenues down 15-27 percent year-on-year to USD 5.2-6.0 billion. EPS is forecast to fall 23-32 percent to USD 0.80-0.90. MSM shipments are estimated at 225-245 million, an improvement from 203 million in the previous quarter but still down 9-17 percent on an annual basis.
Tags: falls
profit
quarterly
qualcomm
Marcus Lemonis of CNBC's 'The Profit' Launches National...
2015-11-04 20:59:31| Mobile Homes - Topix.net
"I want you to look your closets for those jeans you bought that you thought would fit just I did or the ones you thought were in style last year, and give them away," said Lemonis. "Everyone owns a pair of jeans they don't wear so bag 'em up, box 'em up and give them away to someone in need!" Lemonis currently offers a corporate social responsibility program at all of his businesses called 'Project Good Samaritan', with a mission for associates to make communities a better place both as corporate citizens and individual employees through a dedicated focusing on 'people helping people.'
Tags: national
profit
marcus
launches
Michael Kors sales, profit beat estimates; buyback raised
2015-11-04 15:26:42| Apparel - Topix.net
Handbag and accessories maker Michael Kors Holdings Ltd reported better-than-expected quarterly sales and profit, and raised its share buyback program. A model presents creations from the Spring/Summer 2015 Michael Kors collection during New York Fashion Week September 10, 2014.
Tags: sales
michael
profit
raised
SoftBank profit disappoints as it works on Sprint
2015-11-04 10:21:55| IT Services - Topix.net
Japan's SoftBank Group Corp. on Wednesday reported weaker-than-expected net profit for its fiscal second quarter, as it works to turn around Sprint Corp., the struggling U.S. wireless carrier it acquired in 2013. The Japanese telecommunications and Internet giant posted a net profit of Yen213 billion, which was below analyst expectations for Yen262 billion.
North America sales boost Honda profit
2015-11-04 09:27:15| BBC News | Business | UK Edition
Japanese carmaker Honda reports a rise in second quarter profits, helped by increased sales in North America and the introduction of its new HR-V model.
Tags: north
sales
america
north america
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