Revenues $6.9 billion
(PRNewswire) — Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for the second quarter of fiscal 2015 ended March 29, 2015."We are pleased with our second quarter results, with record licensing revenues and earnings driven by all-time high 3G/4G device shipments reported by our licensees. We continue to see robust global demand for 3G/4G devices, including in China where our licensing business is now better positioned to participate in the rapidly accelerating adoption of our 3G/4G technology," said Steve Mollenkopf, CEO of Qualcomm Incorporated. "While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer. In addition to our ongoing expense management initiatives, we have initiated a comprehensive review of our cost structure to identify opportunities to improve operating margins while at the same time extending our technology and product leadership positions."
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Second Quarter Results (GAAP)* |
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Q2 Fiscal
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Q2 Fiscal
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Year-Over-
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Q1 Fiscal
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Sequential
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Revenues 1 |
$6.9B |
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$6.4B |
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+8 |
% |
$7.1B |
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(3) |
% |
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Operating income 1 |
$1.3B |
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$2.0B |
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(33) |
% |
$2.1B |
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(35) |
% |
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Net income 2 |
$1.1B |
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$2.0B |
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(46) |
% |
$2.0B |
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(47) |
% |
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Diluted earnings per share 2 |
$0.63 |
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$1.14 |
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(45) |
% |
$1.17 |
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(46) |
% |
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Operating cash flow |
($0.7B) |
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$1.8B |
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N/M |
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$2.4B |
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N/M |
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1 Throughout this news release, revenues, operating expenses, operating income, earnings before tax (EBT) and effective tax rates are from continuing operations (i.e., before adjustments for noncontrolling interests and discontinued operations), unless otherwise stated. |
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2 Throughout this news release, net income and diluted earnings per share are attributable to Qualcomm (i.e., after adjustments for noncontrolling interests and discontinued operations), unless otherwise stated. |
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Non-GAAP Second Quarter Results | |||||||||
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Q2 Fiscal
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Q2 Fiscal
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Year-Over-
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Q1 Fiscal
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Sequential
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Revenues |
$6.9B |
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$6.4B |
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+8% |
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$7.1B |
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(3%) |
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Operating income |
$2.7B |
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$2.3B |
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+16% |
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$2.5B |
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+7% |
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Net income |
$2.3B |
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$2.3B |
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+4% |
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$2.3B |
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+3% |
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Diluted earnings per share |
$1.40 |
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$1.31 |
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+7% |
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$1.34 |
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+4% |
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