QUALCOMM Inc. Earnings Cheat Sheet: Tops Analysts’ Expectations

S&P 500 (NYSE:SPY) component QUALCOMM Incorporated (NASDAQ:QCOM) reported net income above Wall Street’s expectations for the fourth quarter. Qualcomm designs and manufactures digital wireless telecommunications products and services based on its CDMA technology and other technologies.

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QUALCOMM Incorporated Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the communication equipment company rose to $1.06 billion (62 cents per share) vs. $865 million (53 cents per share) in the same quarter a year earlier. This marks a rise of 22.1% from the year earlier quarter.

Revenue: Rose 39.5% to $4.12 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: QCOM reported adjusted net income of 80 cents per share. By that measure, the company beat the mean estimate of 69 cents per share. It beat the average revenue estimate of $4 billion.

Quoting Management: “I am very pleased with our performance this year as we delivered record revenues, earnings and MSM chipset shipments, driven by the popularity of smartphones, continued adoption of 3G technologies, particularly in emerging regions, and our industry-leading patent portfolio,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “The breadth and depth of our chipset roadmap, extensive licensing program and diverse set of global partnerships position us well for strong revenue and earnings growth in fiscal 2012. We are excited about the upcoming commercial launch of our groundbreaking Snapdragon multimode LTE solution and continue to invest in and execute on our strategic priorities to drive profitable growth.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 34.9% and in the second quarter, the figure rose 29.1%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by one cent in the third quarter, by 5 cents in the second quarter, and by 6 cents in the first quarter.

Revenue has risen the past four quarters. Revenue increased 33.9% to $3.62 billion in the third quarter. The figure rose 45.5% in the second quarter from the year earlier and climbed 25.4% in the first quarter from the year-ago quarter.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the first quarter of the next fiscal year is 77 cents per share, down from 78 cents ninety days ago. The average estimate for the fiscal year is $2.84 per share, a rise from $2.83 ninety days ago.

Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), Nokia Corporation (NYSE:NOK), Motorola Mobility Hldgs. Inc (NYSE:MMI), NVIDIA Corporation (NASDAQ:NVDA), Infineon Tech. AG (IFNNY), Atheros Communications, Inc. (NASDAQ:ATHR), and Microsoft Corporation (NASDAQ:MSFT).

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(Source: Xignite Financials)