Qualcomm last Wednesday, November 6, released data on its earnings for the last quarter.
It is worth noting that the mentioned figures exceeded Wall Street’s preliminary expectations. Against the background of positive earnings data, the value of the company’s shares showed an increase of 10% during extended trading. Then the securities of the firm fell by about 4%.
Qualcomm’s revenue for the quarter ended September 29 was fixed at $10.24 billion. This indicator increased by 18% year-on-year. It is worth noting that Refinitiv’s preliminary forecast provided that the company’s revenue for the mentioned quarter would be fixed at $9.9 billion.
Earnings per share amounted to $2.69 in this case.
The company also expects its revenue to range from $10.5 billion to $11.3 billion in the current quarter. The LSEG consensus forecast provided that the corresponding figure would be $10.59 billion.
Qualcomm’s total revenue for the 2024 fiscal year was fixed at $33.19 billion. This indicator increased by 9% year-on-year.
It is worth noting that historically, all Qualcomm’s successes have been associated with the smartphone industry. The company supplies manufacturers of the mentioned devices with system-on-a-chip processors, modems, and antennas. The firm also produces a chip, which is a kind of technological base for most high-end devices running on the Android operating system. Moreover, the firm sells modems and related microcircuits to Apple for its iPhones. Last year, the company said its contract for 5G chips ran through 2026.
As we have reported earlier, Qualcomm Announces New Chip for Mixed Reality.
