QCOM beats fourth-quarter fiscal 2024 earnings estimates on top-line growth led by solid automotive, handset and IoT revenues.
Semiconductor firm Qualcomm Inc (NASDAQ:QCOM) reported fiscal fourth-quarter results after yesterday's close, with earnings per share and revenue both beating estimates.
Qualcomm Inc. NASDAQ: QCOM, the California-based semiconductor heavyweight with a market cap of $192 billion, has had a decent year. It started with a bang and continued 2023's rally all the way to a fresh all-time high in June before shares slid 35% into August.
Qualcomm (QCOM) is rallying Thursday morning after a strong earnings report. Olivier Blanchard from the Futurum Group thinks the changes the company has made over the last 10 years puts it in a strong position to continue to rally.
Mobile chipset major Qualcomm (NASDAQ: QCOM) posted a better-than-expected set of Q4 FY'24 yesterday and guided better-than-expected numbers for the holiday quarter, driving the stock up by about 6% in after-hours trading on Wednesday. While revenue rose 9% year-over-year to $33.19 billion, earnings saw a considerable jump rising to $2.59 per share, up from $1.23 per share in the year-ago period.
Qualcomm's shares rose more than 8% on Thursday after the company forecast first-quarter results ahead of Wall Street estimates as the chip designer benefits from a recovery in the smartphone market and the launch of new Chinese handsets.
US chipmaker Qualcomm Inc (NASDAQ:QCOM, ETR:QCI)'s rapid inroads into the home PC market paid dividends in its 2024 financial year. Total revenues surged 9% to $39 billion, while net income added 40% to $10.1 billion.
Qualcomm could be the best AI stock to own forever.
QUALCOMM Incorporated (QCOM) Q4 2024 Earnings Call Transcript
The headline numbers for Qualcomm (QCOM) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Qualcomm (QCOM) stock is seeing a boost of over 10% in extended hours after the semiconductor manufacturer topped fiscal fourth quarter estimates for its top and bottom lines. The chip company posted revenue of $10.24 billion ($9.91 billion was expected) and adjusted earnings of $2.69 per share ($2.56 was expected).
Qualcomm (QCOM) came out with quarterly earnings of $2.69 per share, beating the Zacks Consensus Estimate of $2.56 per share. This compares to earnings of $2.02 per share a year ago.