Qualcomm said it has posted $5.4 billion revenue (–11 percent) and net income of $0.9 billion (–40 percent) in fiscal third quarter ended June 25, 2017.
Operating cash flow of Qualcomm fell to $0.1 billion from $1.8 billion.
Qualcomm said the chipset company was impacted by a reduction in operating cash flow due to $940 million payment to BlackBerry, $927 million payment as part of Korea Free Trade Commission (KFTC) fine and Apple’s contract manufacturers and the other licensee in dispute.
The second quarter of fiscal 2017 results included $974 million reduction to revenues, or $0.48 per share, related to the BlackBerry arbitration.
“We are expanding into many new product categories, including automotive, mobile computing, networking and IoT,” Steve Mollenkopf, CEO of Qualcomm.
“We hold the high ground with regard to the dispute with Apple, and we have initiated new actions to protect the well-established value of our technologies,” Steve Mollenkopf said.
QCT: $4.1B revenues, 14 percent EBT margin, 187M MSM shipments
QTL results were negatively impacted as a result of non-payment of royalties by Apple’s contract manufacturers and the previously disclosed dispute with another licensee.
QTL: $1.2B revenues, 73 percent EBT margin
Qualcomm expects these licensees will continue to take such actions in the future until the disputes are resolved. Qualcomm does not believe total reported device sales and related estimated ranges of device shipments and average selling prices are meaningful in measuring QTL business.
