Qualcomm released their Q1 2014 earnings recently, and the results are mixed. Though they’re still in the black when it comes to overall health, they did miss projections just a bit. Their revenue for Q1 2014 was just shy of expectations, but their stock earning was well over expectations.
For last quarter, Qualcomm brought in $6.62 billion in revenue, which was just shy of the $6.68 billion expected. The revenue was up 10% year-over-year, and 2% sequentially. Operating income was down 28% to $1.49 billion as the chipset maker continues to try and curb spending. Net income was $1.88 billion for the quarter, down 2% versus last year, but up 25% sequentially.
Earnings per share were at $1.26, well above the expected benchmark of $1.18. Diluted earnings per share were $1.09, up 27% sequentially and even year-over-year. Qualcomm notes their effective tax rate is 18%, and that they have an operating cash flow of $2.78 billion, which is up 41% y-o-y.
As Qualcomm continues to dominate the SoC market, they’re in a good position to increase market share in China, which rolled out its LTE network recently. Qualcomm Chairman Paul Jacobs said “Looking forward, we expect our performance to reflect the continued strong global growth of smartphones, our chipset leadership position and our competitive strengths in 3G/4G technologies and products.” As the mid-range market gears up to take over, we’ll see if Qualcomm can adjust and make another strong showing next quarter.
VIA: Phone Arena