Feeds

Tech spending fears hit Qualcomm shares

Profits up but shares fall

Intelligent flash storage arrays

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).®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.