Wall street apparently expected more from QC's guidance. And Facebook missed... Ugh....
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Today will be a bubble bath with rubber duckies. Come on Qualcommers the glass is half full!
Cut the test labs, then with fewer CR's due to less testing we can cut the debug teams and really shorten the development cycle.
With the money saved I should be given senior staff next review cycle, and still have free sodas.
They are going to cut down the engineers before they cut the middle management. They still need managers to handle the process for a while.
Cut the free sodas, coffee and executive bonuses instead of our jobs!
Not so fast on firing the Directors and Managers. They are needed to firing the engineers first. When they are all gone, then the Execs will let go the middle managers.
Reduce the number of VPs/Directors/Managers...... they are the real waste...not just shutting down groups which are not that productive.. there is a complete mess in QCT and many other groups....too much middle management......
?
Minor: "testing projects"... you mean "test projects"
"We will accelerate cost cutting that was started in 2014. Looking across the board. Revisiting testing projects with an emphasis on ROI." ~Derek
Chief Executive Steve Mollenkopf said the company is reviewing possible cuts to improve operating margins.
nothing more needs to be said......as the boss said the above in today's earnings.....More layoffs to come
Well, I at least we're in good company with TI. Looks like they missed.
HeadInSandWithoutHistoryBook: Not economic ruin. But, wall street apparently won't like it... The hedge funds that took a short position are going have a field day tomorrow....And you'll get renewed shareholder activists crying foul again in the coming weeks, some will probably be screaming "see"
QTL EBT up 18% yoy for Q1. Economic ruin?
That said, with expectations lowered for Q3, I'm sure we'll see a bounce when we beat or lowered numbers in Q3 (I hope)
Wireless chip maker Qualcomm (QCOM) this afternoon reported fiscal Q2 revenue and earnings per share that topped analysts’ expectations, but offered a lower-than-expected Q3 view, and slashed its year revenue outlook, saying it was not going to say how many devices shipping will apply to its license deals this year.
Revenue in the three months ended in March rose to $6.89 billion, yielding EPS of$ 1.40. Analysts had been modeling $6.82 billion and $1.33 cents per share.