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7/29, 10:09 PM (Source: TeleTrader)
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Qualcomm posts EPS of $0.74 in Q3

Qualcomm Inc announced on Wednesday its earnings per share were $0.74 in its third fiscal quarter of 2020. The figure declined from $1.75 in the same quarter last year, but Qualcomm described the fall as "not meaningful" due to a settlement agreement with Apple in results from the same quarter last year. Revenue in the third quarter of fiscal 2020 was $4.9 billion, falling 49% year on year. Meanwhile, net income was at $845 million, falling by 60% from the same quarter in 2019.

"As 5G continues to roll out, we are realizing the benefits of the investments we have made in building the most extensive licensing program in mobile and are turning the technical challenges of 5G into leadership opportunities and commercial wins. We delivered earnings above the high end of our range, continued to execute in our product and licensing businesses and entered into a new long-term patent license agreement with Huawei, all of which position us well for the balance of 2020 and beyond," CEO Steve Mollenkopf said.

After the bell, Qualcomm jumped 8.9%.

Breaking the News / VP