Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Qualcomm Announces 3Q Fiscal 2018 Results - Ink World Magazine

What are you searching for?

Sign in
Flexible Electronics News

Qualcomm Announces 3Q Fiscal 2018 Results

GAAP revenues are $5.6 billion, EPS exceeds high end of prior guidance range.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Qualcomm Incorporated announced results for its fiscal third quarter ended June 24, 2018. The company reported GAAP revenues of $5.6 billion. EPS exceeds the high end of prior guidance range.
 
“We reported results significantly above our prior expectations for our fiscal third quarter, driven by solid execution across the company, including very strong results in our licensing business,” said Steve Mollenkopf, CEO of Qualcomm. “We intend to terminate our purchase agreement to acquire NXP when the agreement expires at the end of the day today, pending any new material developments. In addition, as previously indicated, upon termination of the agreement, we intend to pursue a stock repurchase program of up to $30 billion to deliver significant value to our stockholders.”
 
The company’s cash, cash equivalents and marketable securities totaled $35.9 billion at the end of the third quarter of fiscal 2018, compared to $37.8 billion a year ago and $39.6 billion at the end of the second quarter of fiscal 2018. In addition, funds of $2.0 billion were held to collateralize the letters of credit related to the proposed acquisition of NXP, which have been included in other noncurrent assets since the end of the first quarter of fiscal 2017, and funds of $2.8 billion were restricted for redemption of long-term debt, which were included in other current assets at the end of the third quarter of fiscal 2018.

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters

Topics