Qualcomm has been facing a lot of legal battles as of late, as they’ve faced legal issues from the likes of BlackBerry as well as Apple. Not only that, but entire countries have also attacked Qualcomm with claims of antitrust business practices and forced them to pay out fines. The company’s latest financial report shows that these recent issues might be having an impact on both their overall revenue and their net income profit when compared to last year.
As Qualcomm starts to fight back against Apple in court, the company’s recent financial trend may just be the start too. And to top it all off, a recent acquisition that had previously received approval now has an open investigation into the deal as well. This isn’t to say that Qualcomm’s books have fallen into the red. In fact, the company was able to beat expectations from both Wall Street analysts as well as their own projections from back in April.
For Q3 of this year, Qualcomm was able to bring in revenues of $5.4 billion. This number is actually quite respectable and is $400 million more than the company was able to bring in last quarter. However it’s down compared to Q3 of last year when they were able to bring in $6.0 billion in revenue. We see the same trend when it comes to net income for the company as well. Qualcomm was able to bring in a profit of $900 million for the third quarter of this year.
Which again, is up from the $700 million in profit that they were able to gain during the second quarter of this year. However, when we look back at Q3 of 2016 we can see it’s actually down by $500 million. Operating cash flow for the quarter sits at $100 million, which actually down when compared to last quarter ($800 million), as well as the same quarter last year ($1.8 billion). The report also notes that the reduction in operating cash flow listed there included the $940 million arbitration payment to BlackBerry, a $927 million payment related to a Korea Free Trade Comission fine, and the impact from the actions taken by Apple’s contract manufacturers as well as other licensee in dispute.
Source: Qualcomm
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