Company News: Qualcomm (QCOM) quarterly results beat analysts’ forecasts

Market news

5 November 2020

Company News: Qualcomm (QCOM) quarterly results beat analysts’ forecasts

Qualcomm (QCOM) reported Q4 FY 2020 earnings of $1.45 per share (versus $0.78 per share in Q4 FY 2019), beating analysts’ consensus estimate of $1.18 per share.

The company’s quarterly revenues amounted to $6.502 bln (+35.3% y/y), beating analysts’ consensus estimate of $5.936 bln.

The company also issued upside guidance for Q1 FY 2021, projecting EPS of $1.95-2.15 versus analysts’ consensus estimate of $1.68 and revenues of $7.8-8.6 bln versus analysts’ consensus estimate of $7.16 bln.

QCOM rose to $148.00 (+14.76%) in pre-market trading.

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