Qualcomm (Nasdaq: QCOM ) reported earnings on April 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 25 (Q2), Qualcomm beat expectations on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.
Gross margin dropped, operating margin contracted, and net margin expanded.
Qualcomm reported revenue of $4.94 billion. The 36 analysts polled by S&P Capital IQ predicted net sales of $4.80 billion on the same basis. GAAP reported sales were 28% higher than the prior-year quarter's $3.87 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $1.01. The 32 earnings estimates compiled by S&P Capital IQ averaged $0.96 per share on the same basis. GAAP EPS of $1.28 for Q2 were 117% higher than the prior-year quarter's $0.59 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 63.9%, 870 basis points worse than the prior-year quarter. Operating margin was 30.6%, 640 basis points worse than the prior-year quarter. Net margin was 45.1%, 1,930 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $4.73 billion. On the bottom line, the average EPS estimate is $0.88.
Next year's average estimate for revenue is $19.35 billion. The average EPS estimate is $3.77.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 2,303 members out of 2,440 rating the stock outperform, and 137 members rating it underperform. Among 540 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 515 give Qualcomm a green thumbs-up, and 25 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Qualcomm is outperform, with an average price target of $69.56.
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