May 1, 2019

Qualcomm to record $4B revenue from Apple settlement

Photo: Ramon Costa/SOPA Images/LightRocket via Getty Images

In its quarterly earnings released today, Qualcomm said it would record $4.5-$4.7 billion revenue in the coming quarter as part of its settlement of a long-running intellectual-property quarrel with Apple.

The revenue "includes a cash payment from Apple and the release of related liabilities," Qualcomm said.
The two companies had previously declined to specify the economic impact of the settlement, other than to say Apple would make a one time payment to Qualcomm as part of the broader agreement.

Go deeper: Apple, Qualcomm settle long-running legal dispute

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Kim Hart

Public transit's death spiral

Illustration: Eniola Odetunde/Axios

Public transit systems across the country are experiencing a painful trifecta: Ridership has collapsed, funding streams are squeezed, and mass transit won't bounce back from the pandemic nearly as fast as other modes of transportation.

Why it matters: Transit agencies could see an annual shortfall of as much as $38 billion due to the coronavirus pandemic, according to TransitCenter. At the same time, they're more important than ever, with more than 36% of essential workers relying on public transportation to get to work.

Go deeper8 mins ago - Health

Axios

World coronavirus updates: London mayor says U.K. nowhere near lockdown lifting

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Prime Minister Jacinda Ardern offered hope in the fight against the novel coronavirus, saying she believes New Zealand has "turned a corner" after two weeks of strict lockdown measures. But London Mayor Sadiq Khan has said the U.K. is "nowhere near" lifting restrictions.

The big picture: COVID-19 has killed over 82,000 people and infected 1.4 million others globally as of early Wednesday, per Johns Hopkins data. Global recoveries have surpassed 301,000. Spain has reported the most cases outside the U.S. (more than 141,000) and Italy the most deaths (over 17,000). Half the planet's population is on lockdown.

Go deeperUpdated 32 mins ago - Health

Stef W. Kight

Wisconsin may be the start of the 2020 election wars

Illustration: Aïda Amer/Axios

Wisconsin voters braving lines in face masks — after a last-minute Supreme Court ruling against extending the absentee deadline — could foreshadow a nationwide legal struggle over how to conduct elections during the coronavirus outbreak, election experts say.

Why it matters: "It's a harbinger of what's to come in the next skirmishes in the voting wars" from now through November, Richard Hasen, a professor and national election law expert at the University of California, Irvine, told Axios.

Go deeper37 mins ago - Politics & Policy