Qualcomm reported net income of $845 million for the quarter ended June 28, down 61 percent from $2.149 billion for the same quarter last year.
Earlier today, Qualcomm reported net earnings with third-quarter revenue of $4.893 billion compared to $9.635 billion for the same period last year and MSM chip shipments of $130 million for the quarter, down 17 percent from $156 million for the same period last year.
Qualcomm’s equipment and services revenues for the third quarter were $3.794 billion compared to $3.531 billion for the same period last year; licensing revenues were $1.099 billion compared to $6.104 billion for the same period last year.
Qualcomm also expects shipments of MSM chips to reach 145 million to 165 million in the fourth quarter of fiscal 2020. By segment, Qualcomm expects CDMA Technology Group revenue for the fourth quarter to be between $4.3 billion and $4.9 billion and Technology Licensing Group revenue for the fourth quarter to be between $1.2 billion and $1.4 billion.
Following the above earnings report, Qualcomm shares rose $1.58 and closed at $93.03 or 1.73 percent in regular Nasdaq trading.
It is also worth noting that Qualcomm made a new announcement by settling a major lawsuit with Huawei in July, signing a new long-term patent license agreement with Huawei, which will be a major supplier of 5G handsets and networking equipment, and receiving retroactive payments of $1.8 billion.