Categories AlphaGraphs, Earnings, Technology
Qualcomm (QCOM) Q2 profit dips 29% but beats estimates
The actual impact of COVID-19 on results will differ due to challenging economic environment and uncertain effects
Qualcomm Inc. (NASDAQ: QCOM) reported its financial results for the quarter ended March 31, 2020 today. The results exceeded analysts’ expectations.
Qualcomm posted a 29% drop in earnings for the second quarter of 2020 due to a negative impact from the global COVID-19 pandemic, which caused a reduction in demand for 3G/4G/5G handsets of about 21%. However, the top-line increased by 5% higher revenue from Qualcomm CDMA Technologies.
Given the uncertainty caused by the COVID-19, including the timing and pace of economic recovery, the company’s guidance for Q3 FY20 is based on a planning assumption that there will be about a 30% reduction in handset shipments relative to its prior estimates. For Q3, the company sees revenue of $4.4-5.2 billion, EPS of $0.29-0.49, and adjusted EPS of $0.60-0.80.
Past Performance
Qualcomm Q1 2020 Earnings Results
QCOM Q4 2019 Earnings Performance
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to