Qualcomm's third-quarter revenue of $5.4 billion fell 11% year-on-year

Electronic enthusiasts eight o'clock: On July 20, Qualcomm today released its third fiscal quarter financial report for the fiscal year ending June 25, 2017. The report showed that Qualcomm's third-quarter revenue was $5.4 billion, down 11% from $6 billion in the same period last year; net profit was $900 million, down 40% from $1.4 billion in the same period last year.

Compare with analyst expectations:

Qualcomm’s third-quarter revenues, which were not measured in accordance with US GAAP, were $5.3 billion, and the diluted net profit per share, which was not measured in accordance with US GAAP, was $0.83, roughly in line with analysts’ previous expectations. According to a financial information provider FactSet survey, analysts on average expected third-quarter revenue of 5.28 billion US dollars, earnings per share of 0.83 US dollars.

At the same time, Qualcomm expects fourth-quarter fiscal 2017 revenue to be between $5.2 billion and $6.4 billion, with a value of $5.8 billion, which is higher than expected; it is not expected to be measured in accordance with US GAAP for the third quarter. Diluted earnings per share will range from $0.75 to $0.85, with a value of $0.80, which is less than expected. According to a financial information provider FactSet survey, analysts on average expected fourth-quarter revenue of 5.51 billion US dollars, earnings per share of 0.93 US dollars.

After the earnings report, Qualcomm shares fell nearly 2% in the US stock market after-hours trading on Wednesday.

Financial details:

Qualcomm's third-quarter revenue was $5.4 billion, down 11% from $6 billion in the same period last year and up 7% from $5 billion in the previous quarter. Among them, equipment and service-related revenues were $4.121 billion, up from $3.875 billion in the same period last year; authorized revenues were $1.25 billion, down from $2.169 billion in the same period last year.

Classified by specific business unit:

Qualcomm CDMA Technologies Group's third-quarter revenue was $4.052 billion, up 5% from $3.853 billion in the same period last year and up 10% from $3.676 billion in the previous quarter. The group's pre-tax profit (EBT) was $575 million, a 58% increase from the $365 million in the same period last year and a 21% increase from the previous quarter's $475 million; pre-tax profit in revenue The proportion was 14%, compared with 9% in the same period last year and 13% in the previous quarter.

Qualcomm Technology Authorized Group's third-quarter revenue was $1.172 billion, a 42% decrease from the $2.038 billion in the same period last year and a 48% decrease from the previous quarter's $2.249 billion. The group's pre-tax profit (EBT) was $854 million, a 51% decrease from the $1.749 billion in the same period last year and a 56% decrease from the previous quarter's $1.959 billion; pre-tax profit in revenue The proportion was 73%, compared with 86% in the same period last year and 87% in the previous quarter.

Qualcomm's third-quarter revenues, which were not measured in accordance with US GAAP, were $5.3 billion, down 12% from $6 billion in the same period last year and down 11% from $6 billion in the previous quarter.

Qualcomm's third-quarter operating profit was $700 million, down 48% from $1.4 billion in the same period last year and 6% from $800 million in the previous quarter; operating profit not measured in accordance with US GAAP was 2.2 billion The US dollar was up 18% from $1.9 billion in the same period last year and up 7% from $2.1 billion in the previous quarter.

Qualcomm's third-quarter net profit was $900 million, down 40% from $1.4 billion in the same period last year and 16% from $700 million in the previous quarter; net income not measured in accordance with US GAAP was $1.2 billion The US dollar was down 28% from $1.7 billion in the same period last year and down 38% from $2 billion in the previous quarter.

Qualcomm's third-quarter diluted earnings per share were $0.58, down 40% from $0.97 in the same period last year and 16% from $0.50 in the previous quarter; diluted net earnings per share not measured in accordance with US GAAP US$0.83, down 28% from $1.34 in the same period last year and down 38% from $1.34 in the previous quarter.

Qualcomm's third-quarter operating cash flow was $100 million, compared to $1.8 billion in the same period last year and $800 million in the previous quarter.

Qualcomm's third-quarter MSM chip shipments were 187 million, down 7% from 2.01 billion in the same period last year and up 4% from 179 million in the previous fiscal quarter.

Stock repurchase and dividends:

In the third fiscal quarter of fiscal 2017, Qualcomm returned a total of $1.1 billion in cash to shareholders, which returned $844 million, or about $0.57 per share, in cash dividends; and returned it in the form of repurchased shares. 300 million US dollars, the total amount of common stock repurchases in the quarter was 5.2 million shares. On July 13, 2017, Qualcomm also announced that it will pay a cash dividend of $0.57 per share, which will be paid on September 20, 2017 to registered shareholders ending on August 30, 2017.

Balance sheet:

As of the end of the third fiscal quarter of fiscal 2017, Qualcomm held cash, cash equivalents and marketable bonds totaling $37.8 billion, compared to $31 billion at the end of the third fiscal quarter of fiscal 2016, as of 2017 At the end of the second fiscal quarter, it was $28.9 billion.

Performance outlook:

Qualcomm expects fourth-quarter fiscal 2017 revenue to be between $5.4 billion and $6.2 billion, down 13% from the previous year's $6.2 billion to a year-on-year; The diluted earnings per share measured by accounting standards will range from $0.55 to $0.65, down 39% to 49% from $1.07 in the same period last year; it is not expected to be measured in accordance with US GAAP for the fourth quarter. Diluted profits will range from $0.75 to $0.85, down 34% to 41% from $1.28 in the same period last year.

In addition, Qualcomm also expects MSM chip shipments in the fourth quarter of fiscal 2017 to be between 205 million and 225 million, down 3% from the 211 million in the same period last year to 7%; Revenues will range from $1 billion to $1.3 billion, down 31% to 47% from $1.9 billion in the same period last year.

Stock price performance:

In Wednesday's Nasdaq market regular trading, Qualcomm shares rose 0.49 US dollars to close at 56.78 US dollars, or 0.87%. In the after-hours trading at 4:51 pm ET (4:51 am Beijing time on Thursday), Qualcomm shares fell 1.13 US dollars to 55.65 US dollars, a decrease of 1.99%. In the past 52 weeks, Qualcomm's highest share price was $71.62 and the lowest share price was $51.05.

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