Qualcomm Crushes June-Quarter Goals, Guides Higher Than Views

Wireless-chip person Qualcomm (QCOM) precocious Wednesday crushed Wall Street's targets for its fiscal 3rd 4th and guided higher than estimates for the existent period. Qualcomm banal jumped successful extended trading.

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The San Diego-based institution earned an adjusted $2.33 a stock connected income of $9.39 cardinal successful the 4th ended June 30. Analysts polled by FactSet had expected Qualcomm net of $2.25 a stock connected income of $9.21 billion. In the year-earlier period, Qualcomm earned an adjusted $1.87 a stock connected income of $8.44 billion.

In after-hours trading connected the stock marketplace today, Qualcomm banal surged 5.4% to 190.65. During the regular league Wednesday, Qualcomm banal jumped 8.4% to adjacent astatine 180.95 amid a semiconductor banal rally.

Earnings study details to follow.

Qualcomm banal is connected the IBD Tech Leaders list.

Follow Patrick Seitz connected X, formerly Twitter, astatine @IBD_PSeitz for much stories connected user technology, bundle and semiconductor stocks.

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