Exceeds Earnings Targets, Raises Outlook
The semiconductor maker last night reported adjusted earnings of $0.97 per share for its fiscal first quarter, easily beating the consensus forecast of $0.89 EPS with growing demand for the iPhone and other smartphones that use its chips. Revenues exceeded expectations as well, coming in at $4.68 billion versus the estimated $4.49 billion. The company also raised its outlook for the current fiscal year to adjusted EPS of $3.55 to $3.75 on revenue of $18.7 billion to $19.7 billion, compared with analysts' projections of $3.60 EPS on $18.39 in revenue. QCOM is up 5 percent on tradeMONSTER's extended-hours platform.
Viacom Falls as Revenues Miss Expectation
The entertainment company said this morning that adjusted earnings came to $1.06 per share versus the forecast $1.05 EPS for its firscal first quarter, but revenue fell short at $3.95 billion versus the expected $3.99 billion. Management blamed "softness in the overall ad markets" for the top-line miss. VIAB is down more than 6 percent in the pre-market.
JDS Uniphase Beats on Top, Bottom Lines
The network systems-testing company said after yesterday's close that earnings came in at $0.15 per share for its fiscal second quarter, well above the consensus estimate of $0.10 EPS. The company said revenues totaled $413 million versus the expected $391 million, and it projected revenue of $410 million to $425 million for the current quarter versus the average expectation of $418 million. JDSU is up 4.5 percent this morning.
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