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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 180.63

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3:38 PM EST

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From: Jim Mullens	4/21/2010 9:31:39 PM
	1 Recommendation Read Replies (2) of 196909

Brief Q2 Summation --- Mostly Positives by my count. But one would never know it by the tone of the dry / lackluster presentation / presenters. In fact, one of the later analysts had to coax BK into revealing that FY10 device unit guidance was actually increased, as was revenue guidance except for pulling in the prior $200M dispute settlement estimate. ……………………Q est…….Consensus est…..Actual 1) Q2 results Revenue………...$2.6B……..$2.63B…………..$2.66B……beat both EPS……………...$$0.57……$0.57…………….$0.59……..beat both MSMs…………….92.5M………………………….93M……..beat Devices…………..146.5M………………………150M……...beat Device ASP……..$179………………………….$184………beat 2) Q3 estimates ……………………………….Consensus est…….Q est Revenue……….................…..$2.66B…………..$2.60B……under EPS…………….......................$0.55……………$0.53………under MSMs………………………………………………100M………higher than Q2 at 93M Devices………….. guidance no longer provided on a quarterly basis Device ASP…….. guidance no longer provided on a quarterly basis 3) FY10 ……………………Q est…….Consensus est…..Rev Q est Revenue………...$10.7…….10.77……………..$10.7..……unchanged but under consensus …Would have been increased to $10.9B commensurate with other metric increases, except for now excluding $0.2B from disputed license settlements which may not now be realized in Fy10 …Positive not volunteered by BK ---Had to be dragged out of BK by one of the later analysts questions EPS……………...$2.20…….$2.31.…………….$2.27……..increased but below consensus by 4 cents MSMs…………….n/a Devices…………..625……………………………625….…...unchanged, but actually increased by 10M units if …measured against new metrics reflected below>>> ……………………615…………………………….625 …Positive not volunteered by BK ---Had to be dragged out of BK by one of the later analysts questions Device ASP……..$181………………………….$185………increased, but is fractionally lower if measured …against new metrics reflected below>>> …,,,MP…………..$187………………………….$185

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