Qualcomm QCOM reported first-quarter earnings of 99 cents per share on Wednesday, which beat the analyst consensus estimate of 85 cents by 16.47%. This is a 17.5% decrease over earnings of $1.20 per share from the same period last year.
The company reported quarterly sales of $5.057 billion, which beat the analyst consensus estimate of $4.83 billion by 4.70%. This is a 5% increase over sales of $4.815 billion the same period last year.
See Also: Here's How Much Investing $100 In Qualcomm Stock Back In 2010 Would Be Worth Today
"Our strong fiscal first quarter financial performance reflects a significant inflection point for Qualcomm as we begin to realize the benefits from the ramp of 5G,” said CEO Steve Mollenkopf.
The company sees adjusted second-quarter EPS of 80-95 cents, compared to the 86-cent estimate, on sales of $4.9-$5.7 billion versus the $5.08 billion estimate.
Qualcomm's stock closed Wednesday at $90.91 per share and ticked higher in after-hours trading. The stock has a 52-week high of $96.17 and a 52-week low of $49.72.
Photo courtesy of Qualcomm.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.