Qualcomm Q1 earnings beat estimates, analyst breaks down results

Qualcomm (QCOM) posted its first-quarter results after the market close on Wednesday, reporting revenue of $9.94 billion and earnings of $2.75 per share, beating Wall Street estimates. The company delivered strong results for its handsets division which posted a revenue of $6.69 billion for the quarter, up 16% year-over-year.
KeyBanc Capital Markets Equity Research Analyst John Vinh joins Yahoo Finance to discuss Qualcomm's quarterly report and what it means for the company going forward.
On one of Vinh's key takeaways from Qualcomm's first-quarter earnings is the restocking cycle. "On the smartphone side, that the restocking cycle that started a couple of quarters ago is sustaining. They beat numbers in the December quarter, guided the Android business flat, said Apple (AAPL) would be down seasonally, so, one, we're still seeing strength and momentum on the Android side. That momentum is continuing to the March quarter, and you know, obviously there's a lot of concerns on the Apple side, but right now, none of the handset suppliers are seeing it, they're all guiding for a seasonal decline in the March quarter, which is typically what you see on the iPhone side."
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