After hours earnings are starting to roll in, and technology concern QUALCOMM is among those companies reporting. For the fourth-quarter, QCOM posted a net profit of $1.13 billion, or 67 cents per share, up 87% from last year's profit of $614 billion, or 36 cents per share. Revenue rose 15% to $2.31 billion from $2 billion last year. On a non-GAAP basis, earnings were 54 cents per share, edging out analyst expectations of 53 cents.
In electronic trading, the stock was seen lower by about 5%, with investors keying on moderate guidance for the first quarter and 2008. Sentiment was complacent in the options pits heading into the report, as QCOM's Schaeffer's put/call open interest ratio (SOIR) of 0.66 ranked in the 47th percentile of its annual range. Meanwhile, if analysts are as disappointed as investors appear to be, the stock could be in for a downgrade or 2 come tomorrow. According to Zacks, 14 of the 17 analysts covering QCOM rate it a buy or better.