What Will Happen to Qualcomm's Licensing Business?
Shares of Qualcomm (NASDAQ: QCOM) fell 5% on July 20 after the mobile chipmaker reported big top and bottom line declines. Revenue fell 12% annually to $5.3 billion, narrowly beating estimates by $40 million. Non-GAAP earnings, meanwhile, dropped 28% to $0.83, which still beat expectations by two cents.
However, that earnings beat was overshadowed by a 42% year-over-year decline in licensing (QTL) revenues, which fell to $1.2 billion. That decline offset improvements in the company's chipmaking (QCT) business, which grew its revenue by 5% to $4.1 billion on robust demand for its flagship Snapdragon chips.
Qualcomm's Quick Charge technology. Source: Qualcomm.
Source: Fool.com
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