*Real-time prices by Nasdaq Last Sale. Qualcomm Inc. shares rocketed toward record highs in the extended session Wednesday after the chip company projected a big jump in profit and revenue in the current quarter thanks to a settlement with Chinese tech giant Huawei Technologies Co.With the long-awaited patent-license settlement with Huawei, The Huawei settlement will add about $1.8 billion in revenue and $1.38 in earnings per share, the company said. Non-GAAP EPS of $0.86 exceeded company guidance of $0.60-$0.80 and represented 8% growth from Q3 2019. Some of the recent developments in 5G chipset market are as follows: Qualcomm announced that its upcoming flagship mobile platform will feature a system-on-chip (SoC) built on the 7nm process node. Intraday Data provided by After adjusting for stock-based compensation and other effects, earnings were 86 cents a share, compared with 80 cents a share in the year-ago period. Analysts expected Qualcomm earnings of 71 cents a share on sales of $4.81 billion. “With the signing of the Huawei agreement we are now entering a period in which we have multiyear license agreements with every major handset OEM,” Steve Mollenkopf, Qualcomm chief executive, said on the conference call.The settlement includes money that is owed Qualcomm from previous quarters, as well as a new long-term, global patent-license agreement, Qualcomm said. That's based on the midpoint of its guidance and excludes a pending legal settlement from Chinese telecom giant Huawei.Get these newsletters delivered to your inbox & more info about our products & services. Analysts had predicted Qualcomm earnings of $1.10 a share on sales of $5.78 billion in the fiscal fourth quarter. Analysts had forecast adjusted earnings of $1.09 a share on revenue of $5.76 billion. Net income and revenue from the year-ago period was The company reported fiscal third-quarter net income of $845 million, or 74 cents a share, compared with $2.15 billion, or $1.75 a share, in the year-ago period. Qualcomm had a 43% share in the second quarter, leaving MediaTek in … In the year-earlier period, Qualcomm earnings were 78 cents a share on sales of $4.8 billion.Qualcomm said it will receive a royalty payment from Huawei totaling $1.8 billion in the September quarter. Analysts had predicted Qualcomm earnings of $1.10 a share on sales of $5.78 billion in the fiscal fourth quarter. Qualcomm leads MediaTek in the world cellular baseband market, tech research firm Strategy Analytics says. Qualcomm produced a big upside surprise when it recently reported fiscal Q3 2020 earnings. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness.
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