Written by Michelle Jones

Qualcomm (QCOM) and Vivus (VVUS) released their latest earnings reports after closing bell tonight. Qualcomm reported adjusted earnings of 91 cents per share or $1.4 billion and $5.5 billion in revenue for its fourth fiscal quarter. Analysts had wanted to see earnings of 86 cents per share and $5.21 billion in revenue. In last year’s fourth quarter, the chip maker reported earnings of $1.26 per share or $2.1 billion and $6 billion in revenue.

Vivus posted losses of 15 cents per share and $24.9 million in revenues. Wall Street was looking for losses of 17 cents per share and $20.24 million in revenue. In last year’s third quarter, Vivus reported losses of 10 cents per share and $33.9 million in revenue.

Qualcomm shares edge downward

Qualcomm’s GAAP earnings were 67 cents per share or $1.1 billion, compared to last year’s net income of $1.9 billion or $1.11 per share. The chip maker’s full year revenues for 2015 were $25.3 billion, while non-GAAP earnings for the full year were $4.66 per share or $7.6 billion and GAAP earnings were $3.22 per share or $5.3 billion.

The company shipped 203 million MSM chips during the quarter, a decline of 236 million in last year’s fourth quarter. Total reported device sales increased to 58.3 million, while 3G/ 4G device shipments climbed to a range of 276 million to 280 million. The average selling price of 3G/ 4G devices was between $207 and $213.

Qualcomm announced that it’s changing the way it provides guidance and will no longer provide annual guides for revenue and earnings. Management did say they expect $5.2 billion to $6 billion in revenues for the current quarter and non-GAAP earnings of 80 cents to 90 cents per share, both of which would mark declines from last year. They expect GAAP earnings to fall to between 80 cents and 90 cents per share as well. Management expects to ship between 225 million and 245 million MSM chips during the current quarter.

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