Qualcomm Pegs Payment From Apple at $4.5 Billion to $4.7 Billion

Qualcomm Pegs Payment From Apple at $4.5 Billion to $4.7 Billion - The New York Times

Qualcomm will book a one-time payment of $4.5 billion to $4.7 billion next quarter from its settlement with Apple in a patent battle, the mobile chip maker said Wednesday as it reported its quarterly earnings.

It was the first time investors got a look at how the agreement will help Qualcomm’s bottom line, and the company’s shares fell about 3 percent in after-hours trading. The stock had been up more than 50 percent in recent weeks, reflecting investor relief at the deal. However, Qualcomm’s forecasts suggested that Apple’s licensing fees will not substantially increase revenue as Apple catches up on royalties it didn’t pay while the two companies were feuding.

Excluding that payment, Qualcomm estimated $4.7 billion to $5.5 billion in revenue in the next period, its fiscal third quarter, with a midpoint slightly below the $5.29 billion analysts had been expecting, according to IBES data from Refinitiv.

“We see a pause ahead of a 5G launch,” Cristiano Amon, Qualcomm’s chip chief, said on a conference call with investors, referring to the next generation of mobile networks, which will roll out this year and next. [Read More]

Published @ May 1, 2019

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