Qualcomm (QCOM): FQ2 EPS of $1.01 beats by $0.05. Revenue of $4.94B (+28% Y/Y) beats by $100M. Expects FQ3 revenue of $4.45B-$4.85B and EPS of $0.83-$0.89, largely below consensus of $4.8B and $0.90. Expects FY12 revenue of $18.7B-$19.7B and EPS of $3.61-$3.76, compared with consensus of $19.4B and $3.77.
Qualcomm's FQ2: Baseband chip shipments rose 29% Y/Y to 152M, but expects only 144M-152M in FQ3 (could share loss be an issue?). Collected royalties on 239M-243M devices at an average price of $211-$217 ($212-$218 in FQ1). This leads Qualcomm to hike its FY12 ASP guidance to $207-$217 from $204-$216. R&D expenses rose 30% Y/Y to $824M. Ended FQ2 with $26.6B in cash and investments ($22B prior). QCOM -6.6% AH
Qualcomm's FQ2: Baseband chip shipments rose 29% Y/Y to 152M, but expects only 144M-152M in FQ3 (could share loss be an issue?). Collected royalties on 239M-243M devices at an average price of $211-$217 ($212-$218 in FQ1). This leads Qualcomm to hike its FY12 ASP guidance to $207-$217 from $204-$216. R&D expenses rose 30% Y/Y to $824M. Ended FQ2 with $26.6B in cash and investments ($22B prior). QCOM -6.6% AH
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