Earnings from CA Technologies and Qualcomm

After the bell, we got earnings reports from two of our tech stocks. CA Technologies ($CA) reported fiscal Q1 earnings of 65 cents per share which is five cents better than expectations. Revenue fell 2% to $1.069 billion. This was the ninth-straight quarter in which revenue fell.

The company released its guidance for this fiscal year, which ends in March 2015. They see revenues falling by 1% to 2%, and they expect earnings to range between $2.42 and $2.49 per share. The consensus on Wall Street had been for $2.48 per share. For last year, CA earned $3.07 per share. I’ve been patient with CA but I’m not happy with these results.

Qualcomm ($QCOM) reported fiscal Q3 earnings of $1.44 per share. That easily beat Wall Street’s forecast of $1.22 per share. Qualcomm’s business in China is going very well. But several companies there “are not fully complying with their contractual obligations.” As a result, the company had weak guidance for the current quarter. For fiscal Q4, Qualcomm sees earnings ranging between $1.20 and $1.35 which is below Wall Street’s consensus of $1.39 per share.

Posted by on July 23rd, 2014 at 9:07 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.