Qualcomm stock spikes on earnings and revenue beat


Steve Mollenkopf, chief executive officer of Qualcomm Inc., holds the new Snapdragon 835 chip during a keynote at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada.

Patrick T. Fallon | Bloomberg | Getty Images

Qualcomm stock jumped 6% in extended trading on Wednesday, after the chipmaker reported better-than-expected earnings and revenue.

Qualcomm reported adjusted earnings per share of 78 cents, topping the average estimate of 71 cents, according to
Refinitiv. Revenue of $4.8 billion also beat analyst expectations of $4.7 billion.

The company attributed its strong profit primarily to its licensing segment, which makes money from patents and other licensing arrangements. The…

Source cnbc.com

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