Company News: Qualcomm (QCOM) quarterly earnings beat analysts’ forecast

Market news

4 February 2021

Company News: Qualcomm (QCOM) quarterly earnings beat analysts’ forecast

Qualcomm (QCOM) reported Q1 FY 2021 earnings of $2.17 per share (versus $0.80 per share in Q1 FY 2020), beating analysts’ consensus estimate of $2.10 per share.

The company’s quarterly revenues amounted to $8.235 bln (+62.2% y/y), roughly in line with analysts’ consensus estimate of $8.259 bln.

The company also issued in-line guidance for Q2 FY 2021, projecting EPS of $1.55-1.75 versus analysts’ consensus estimate of $1.56 and revenues of $7.2-8.2 bln versus analysts’ consensus estimate of $7.07 bln.

QCOM fell to $151.60 (-6.59%) in pre-market trading.

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