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Change in Reporting
Shares in US tech firm Qualcomm are trading higher today following a better than expected Q4 earnings call.
Qualcomm posted third-quarter earnings per share of $1.45. This comfortably beat estimates for a $1.17 EPS. Revenues were also higher than expected at $6.5 billion, versus $5.93 billion estimated.
Notably, at this earnings call, Qualcomm said it would adjust its reporting method to break out revenues from handset, radiofrequency, automotive, and internet-of-things chips.
However, the group noted that it wouldn’t break out results (or offer guidance) for MSM chips.
In the past, those revenue streams have been reported in a combined manner under the company’s QCT segment which concentrates on chips. QCT saw revenues jump by 38% year on year to $4.97 billion.
Net Income Soars
Elsewhere, Qualcomm’s other main reporting segment QTL, the segment that included licensing fees through telecommunications patents, saw revenues jump by 30% to $1.51 billion.
The company al...
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