Qualcomm (QCOM) earnings Q1 2021


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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