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Qualcomm expects at least $4.5 billion from Apple settlement

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The detail confirms that Apple paid a high price to end a legal battle between the two tech giants.

The detail, disclosed in Qualcomm's second-quarter earnings report, shows that Apple paid a high price to end a legal battle between the two tech giants that spanned multiple continents and threatened Apple's ability to release a 5G iPhone.While we continue to assess the accounting impacts of the agreements, our financial guidance for the third quarter of fiscal 2019 includes estimated revenues of $4.5 billion to $4.

Since the settlement on April 16, Qualcomm's stock is up over 43%. Apple stock is up over 5% over that stretch, with almost all the gains coming on Wednesday following a better-than-expected earnings report. The companies settled as a federal trial between the two companies was getting underway in San Diego.

 

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We just got our first look at the size of Apple's legal settlement with QualcommIt its quarterly earnings, Qualcomm said it would record $4.5-$4.7 billion revenue in the coming quarter as a result of its settlement with Apple.
Source: BusinessInsider - 🏆 729. / 51 Read more »