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Filing in Focus: QUALCOMM 10-K, November 6, 2013
QUALCOMM Incorporated (QCOM) announced its financial results for the fourth quarter and full 2013 fiscal year, reporting a climb in revenue and earnings. The smartphone chip maker, which sells its products to Apple (APPL) and Samsung (SSNLF), reported fourth quarter earnings of $1.5B and $0.86 per share, up from $1.27B and $0.73 per share last year. Revenue jumped 33% to $6.48B, beating analyst predictions of $6.34B. QUALCOMM’s outlook for fiscal year 2014 is more reserved as the company foresees a slowing of smartphone demand, but still is forecasting solid growth. For the full fiscal year, revenues increased to $24.87B, within its guidance, while earnings per share of $4.51 also fell inside of the $4.48 to $4.56 per share range. CEO Paul Jacobs commented that the company continues to focus on areas that will bring the company a lot of growth, as it looks to trim its spending in certain areas while being more judicious in its research and development projects.