Qualcomm pops on chipmaker's earnings and revenue beat
Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and guided to a strong December quarter.
Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter.
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The shares rose 10% in extended trading at one point before falling to a gain of about 4%.
Here's how the company did versus Refinitiv consensus expectations for the quarter ending Sept. 29:
Earnings per share: $2.69, adjusted $2.56 expected
Revenue: $10.24 billion versus $9.90 billion expected
Qualcomm said it expects revenue in the current quarter of between $10.5 billion and $11.3 billion, with the midpoint of that range beating LSEG consensus expectations of $10.59 billion.
The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023.
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