Qualcomm Swings To Q4 Loss On Tax Charge

Benzinga

Qualcomm posted a quarterly loss due to a $5.7B non-cash tax charge tied to upcoming minimum tax rules, but sales still rose 10%. The company issued strong revenue and earnings guidance for next quarter, beating Wall Street estimates.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Qualcomm reported a fiscal fourth quarter loss due to a large tax charge

00:06would achieve a 10% rise in sales, according to the Wall Street Journal.

00:09Chipmaker reported a quarterly loss of $3.12 billion, or $2.89 per share,

00:15compared with a $2.92 billion profit, or $2.59 per share a year earlier.

00:20Qualcomm took a $5.7 billion non-cash charge tied to the One Big Beautiful Bill Act

00:24to account for future corporate alternative minimum tax obligations starting in fiscal 2026.

00:30The company forecasts first quarter revenue of $11.8 billion to $12.6 billion,

00:34and adjusted earnings of $3.30 to $3.50 per share, above Wall Street estimates.

00:40For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended