Earnings

Qualcomm (QCOM) earnings Q1 2022

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Qualcomm reported first-quarter earnings Wednesday, beating analyst expectations for revenue and guidance, and offering a strong outlook for its fiscal second quarter.

However, Qualcomm stock fell over 8% at one point during extended trading on Wednesday before recovering to a decrease of about 2%. It rose 6.25% during trading on Wednesday before the results were released.

Qualcomm posted its earnings report at the same time as Meta (Facebook), which sparked a sell-off in tech shares after the market closed.

Here’s how Qualcomm did versus Refinitiv consensus expectations for the quarter ending Dec. 26:

  • EPS: $3.23, adjusted, vs. $3.01 expected, up 49% year-over-year
  • Revenue: $10.7 billion,…



Source cnbc.com

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