Plus   Neg

Stock Alert: Qualcomm At New High Following Upbeat Results, Outlook

Shares of Qualcomm Incorporated (QCOM) are rising more than 14% Thursday morning following upbeat fourth-quarter results. The company also provided first-quarter outlook, better than analysts' view.

The stock touched a new high of $147.97 this morning.

Fourth-quarter net income was $2.96 billion or $2.58 per share compared with $506 million or $0.42 per share a year ago.

Earnings on an adjusted basis of $1.45 per share beat the average estimate of 21 analysts polled by Thomson Reuters at $1.17 per share.

Revenue for the quarter rose 73% year-over-year at $8.346 billion. Adjusted revenue increased 35% to $6.502 billion from last year.

For the first quarter, the company expects revenue to be in the range of $7.8 billion - $8.6 billion and adjusted EPS to be in the range of $1.95 - $2.15. The consensus estimate for revenue is $7.15 billion and for EPS is at $1.69 share.

For comments and feedback contact: editorial@rttnews.com

Business News

Get Access to Premium Stock Alerts with RTT Intelligent Investor.
Editors Pick
Intel Corp's Mobileye and self-driving delivery startup Udelv have signed a deal to launch a fully driverless delivery service in the United States by 2023. The companies plan to produce more than 35,000 Mobileye-driven Transporters by 2028. Domino's Pizza and autonomous vehicle startup Nuro are launching autonomous pizza delivery in Houston, this week. Some Domino's customers in Houston can have a pizza delivered by Nuro's R2 robot. CVS Health is now offering cost COVID-19 vaccines at select CVS Pharmacy locations in four more U.S. states as part of its ongoing effort to expand access to COVID-19 vaccines. It has now expanded the program to 51 more select locations in Arkansas, Nebraska, Iowa and Maine. It began in Washington, West Virginia, Delaware and New Mexico at 15 select locations from March 31.
Follow RTT