Earnings

Qualcomm (QCOM) earnings Q1 2021

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Qualcomm reported first quarter earnings after the bell Wednesday.

Adjusted earnings beat expectations but Qualcomm’s sales were slightly lower than what Wall Street expected, sending the stock down over 7% in extended trading.

Here’s how Qualcomm did, compared to Refinitiv consensus estimates:

  • Earnings: $2.17 per share, adjusted, versus $2.10 estimated
  • Revenue: $8.23 billion, adjusted, versus $8.27 billion estimated

Sales were up 63% year-over-year while earnings grew 119%.

Both revenue and earnings showed strong year-over-year growth as Qualcomm’s business has been propelled by smartphones adopting 5G, requiring its chips and intellectual property, as well as an electronics boom during the…



Source cnbc.com

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