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Qualcomm<\/a> Inc forecast third-quarter revenue above analyst expectations after beating second quarter revenue and profit estimates on Wednesday, largely due to its move to focus on a growing non-handset business to cushion a likely hit from slowing smartphone demand.
The strong earnings outlook and record quarterly revenue for the last quarter immediately pushed Qualcomm shares up about 5% in after-hours trading.
Lockdowns in China, war in Ukraine and rising inflation has taken a toll on consumers, preventing them from spending on electronic gadgets like phones. However, Qualcomm remained cushioned from that so far.
\"The market in China is changing a bit. I think we're kind of less impacted by it because we're really focused on the premium and high-tier\" smartphone market, Chief Executive Officer Cristiano Amon told Reuters.
Research firm Canalys' analyst Runar Bjorhovde said smartphone makers will want to sell high-end phones as the supply chain constrains production, while consumers will want to buy cheap phones as inflation and uncertainty hold them back from spending.
He said the \"sweet spot\" will be in the mid-range devices<\/a> ($300-$800), where Qualcomm has a strong hold and excellent partnerships with the vendors who dominate this market segment.
Qualcomm's strong handset earnings also pushed up Apple Inc<\/a>'s shares about 1% in after-hours trading on expectation it hints to strong earnings for the iPhone maker on Thursday.
\"These (Qualcomm) results lay the foundation to make a strong case that the smart phone business is still strong after the traditionally big holiday quarter,\" said Dan Morgan, senior portfolio manager at Synovus Trust Company, adding that Qualcomm derives 25% of its sales from making modem solutions for Apple.
Still to reduce its dependence on handsets, Qualcomm has been diversifying its revenue streams by catering to other markets including automotive, and that strategy has been a success so far, Amon said.
For example, Qualcomm's automotive business pipeline is now at $16 billion, up from $13 billion late last year, mostly thanks to a deal it struck recently with automaker Stellantis, said Amon.
Revenue from chips catering to automotive and internet-powered gadgets rose 41% and 61%, respectively, during the second quarter, while revenue from its mainstay handset business rose 56%, helped by the new Snapdragon launch.
Amon also told Reuters that Qualcomm is open to participating in an IPO by Arm Ltd, which makes blueprints that chipmakers, including Qualcomm, use to design chips. After Nvidia Corp's deal to buy Arm fell apart due to regulatory hurdles, SoftBank Group Corp, which owns the British chip technology company said it would move to list it.
Qualcomm forecast current-quarter revenue between a range of $10.5 billion and $11.3 billion, compared with analysts' estimates of $9.98 billion, according to IBES data from Refinitiv.
Adjusted revenue for the quarter ended March 27 was $11.16 billion, above estimates of $10.6 billion.
Excluding items, Qualcomm earned $3.21 per share, beating estimates of $2.91.
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高通预测乐观的收入多元化打赌回报
高通的强劲的手机业绩也推高了苹果(aapl . o:行情)的股价在盘后交易中约有1%期望它提示为iPhone制造商周四强劲的收益。
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高通公司预计第三季营收将高于分析师预期后超过第二季度收入和利润预期周三,很大程度上是由于其关注越来越non-handset业务转移到缓冲可能从智能手机需求放缓。
强劲的盈利前景和创纪录的季度收入最后一季度立即推高通股价在盘后交易中上涨了约5%。
锁定在中国,战争在乌克兰和不断上升的通货膨胀严重影响了消费者,阻止他们支出的手机等电子产品。然而,高通仍然受到经济衰退,到目前为止。
“中国市场正在发生变化。我认为我们少受到它的影响,因为我们专注于高端和high-tier”智能手机市场,首席执行官克里斯蒂亚告诉路透。
研究公司Canalys的分析师Runar Bjorhovde说智能手机制造商将想卖高端手机供应链限制生产,当消费者想要购买廉价手机通货膨胀和不确定性持有从支出。
他说,“甜蜜点”将在中档设备(300 - 800美元),高通有很强的持有和优秀的合作伙伴与供应商主导这个细分市场。
高通手机强大的收益也推高了苹果(aapl . o:行情)的股价在盘后交易中约有1%期望它提示为iPhone制造商周四强劲的收益。
“这些(高通)结果奠定基础,让强劲的情况下,智能手机业务传统上大假日购物季后依然强劲,”丹·摩根说,Synovus信托公司的高级投资组合经理,高通公司25%的销售额来自现代的解决方案使苹果。
仍然以减少对手机的依赖,高通已经被迎合多样化其收入来源包括汽车在内的其他市场,战略是成功的,到目前为止,亚说。
例如,高通公司的汽车业务管道现在为160亿美元,高于去年年底130亿美元,主要是由于它最近达成的协议与汽车制造商Stellantis亚说。
迎合汽车芯片和引发的电子产品销售额同比增长了41%和61%,分别在第二季度,虽然其主流手机业务收入增长了56%,得益于新Snapdragon发射。
亚也告诉路透,高通是开放臂有限公司参与IPO,这使得芯片制造商的蓝图,包括高通、使用设计芯片。Nvidia公司的收购部门分崩离析后由于监管障碍,软银集团,拥有英国芯片技术公司表示,它将移动到列表。
高通预计当季收入之间一系列的105亿美元和113亿美元,而分析师的估计为99.8亿美元,根据从Refinitiv ib数据。
调整3月27日结束的财政季度的收入为111.6亿美元,高于预估的106亿美元。
扣除特殊项目,高通eps为3.21美元,超出预期的2.91美元。
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