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
The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year. Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow.
Follow RTT