Feeds

Tech spending fears hit Qualcomm shares

Profits up but shares fall

High performance access to file storage

Qualcomm made revenues of $2.31bn in the fourth quarter of fiscal 2007, ended 30 September, 15 per cent more than the same three months of last year.

Net income was $1.13bn, a leap of 84 per cent on last year.

For the fiscal year 2007, Qualcomm made revenues of $8.87bn, up 18 per cent, and net income was up 34 per cent to $3.3bn.

Despite the solid performance Qualcomm shares fell 3.5 per cent. Qualcomm's outlook for 2008 disappointed Wall Street - the company predicts revenue growth of between seven and 12 per cent and an increase in earnings-per-share of between one and four per cent.

Tech shares fell more generally yesterday as Cisco raised fears that the sub-prime problems were likely to hit bank spending on new technology. Cisco shares fell almost 10 per cent, Google was down over five per cent, and Apple was down nearly six per cent.

Regarding its ongoing court battles with Nokia over royalty payments for patents, Qualcomm said it was excluding revenue from Nokia sales after April 2007 until the dispute was resolved. For 2008 Qualcomm believes Nokia will owe it some 25 to 30 cents per share. Following an audit the company also reduced downwards the number of handsets based on its technology it shipped in the fourth quarter from 92 million to 89 million.

Qualcomm's press release is here (pdf).®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.