Qualcomm forecasts sales above estimates, resolves licensing dispute with Huawei
) on Wednesday forecast fourth-quarter revenue largely above Wall Street expectations, powered by sales of its chips used in 5G devices and reaching a settlement with Huawei Technologies Co Ltd [HWT.UL].
The company also said it resolved a licensing dispute with Huawei, which will pay Qualcomm a catch-up payment of $1.8 billion in the fiscal fourth quarter. While Huawei is still barred from buying Qualcomm’s chips under U.S. regulations, it has now resumed paying licensing fees for wireless technology, Qualcomm said.
“We’re seeing a partial impact from the delay of a flagship phone launch. And so what we’ve seen is a slight delay that pushes some of the units out from the September quarter to the December quarter for us,” he said.While Qualcomm has long supplied processors and modems to help phones connect to wireless data networks, it has pushed into also selling radio-frequency chips to help phone makers handle the more complex signals involved in 5G networks.
Qualcomm, which generates most of its profits by licensing its technology to mobile phone makers and others, said licensing revenue in the segment was $1 billion, well above estimates of $851 million, according to FactSet.
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