Feeds

Tech spending fears hit Qualcomm shares

Profits up but shares fall

Providing a secure and efficient Helpdesk

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).®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.