Qualcomm Announces First Quarter Fiscal 2016 Results
Revenues $5.8 billion | GAAP EPS $0.99, Non-GAAP EPS $0.97
Qualcomm Incorporated (NASDAQ: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced results for its fiscal first quarter ended December 27, 2015.
“We delivered a stronger than expected quarter with earnings per share above the high end of our initial estimates, driven by better than expected 3G/4G reported device sales and benefits realized from cost actions across the Company,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. “We signed several new license agreements in China and are on track with our cost reduction initiatives. Design traction for our new Snapdragon 820 processor continues to be strong, and we expect improving trends in our chipset business in the second half of fiscal 2016.”
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