Qualcomm Announces First Quarter Fiscal 2008 Results

Wednesday, January 23rd, 2008
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SAN DIEGO — Qualcomm Incorporated (NASDAQ: QCOM) today announced results for the first fiscal quarter of 2008 ended December 30, 2007.

Total Qualcomm (GAAP) First Quarter Results

Total Qualcomm results are reported in accordance with generally accepted accounting principles (GAAP).

  • Revenues: $2.44 billion, up 21 percent year-over-year and 6 percent sequentially.
  • Net income: $767 million, up 18 percent year-over-year and down 32 percent sequentially.
  • Diluted earnings per share: $0.46, up 21 percent year-over-year and down 31 percent sequentially.
  • Effective tax rate: 18 percent for the quarter. Fiscal 2008 estimated tax rate of approximately 17 percent.
  • Estimated share-based compensation: $85 million, net of tax, down 2 percent year-over-year and up 9 percent sequentially.
  • Operating cash flow: $880 million, up 12 percent year-over-year; 36 percent of revenues.
  • Return of capital to stockholders: In the quarter, dividends announced totaled $228 million, or $0.14 per share, which were paid January 4, 2008 and $900 million related to the repurchase of common stock.