Qualcomm (QCOM) and eBay (EBAY) released their latest earnings reports after closing bell tonight. Qualcomm posted adjusted earnings of $1.34 per share on $6 billion in adjusted revenue. Wall Street had been expecting earnings of $1.19 per share on $5.89 billion in revenue. In the same quarter a year ago, the chipmaker reported $5.5 billion in adjusted revenue and $1.04 per share in non-GAAP earnings
eBay posted non-GAAP earnings of 49 cents per share on $2.2 billion in revenue, compared to the consensus estimates of 48 cents per share and $2.2 billion. In last year’s first quarter, the online marketplace firm posted $2.1 billion in sales and 47 cents per share in earnings.
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Qualcomm shares rise on earnings
Qualcomm’s GAAP earnings per share fell to 50 cents from 78 cents per share last year. Net income fell from $1.2 billion last year to $700 million this year. QCT revenues rose to $3.7 billion on 179 million MSM chip shipments. QTL revenues rose to $2.2 billion on $82.6 billion in total reported device sales.
“We delivered strong results this quarter, with healthy year-over-year growth across our QTL licensing and QCT semiconductor businesses, especially in the important automotive, networking and IoT growth areas,” CEO Steve Mollenkopf said in a statement. “Our performance reflects continued execution of our strategy to lead the mobile industry across a broad set of technologies, including advanced LTE and 5G, and accelerate our growth opportunities beyond mobile into automotive, IoT, security and networking.”
For its third fiscal quarter, Qualcomm expects adjusted earnings to be between 90 cents and $1.15 per share, compared to the consensus estimate of $1.09 per share. The chipmaker expects revenue to be between $5.3 billion and $6.1 billion, versus the consensus of $5.94 billion.
Shares of Qualcomm ticked higher in extended trading, climbing by as much as 1.69% to $53.50 following tonight’s report.
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