{"id":5921,"date":"2023-11-02T08:15:40","date_gmt":"2023-11-02T08:15:40","guid":{"rendered":"https:\/\/connectwithfund.com\/markets\/qualcomm-stock-rises-after-company-beats-earnings-and-revenue-estimates\/"},"modified":"2023-11-02T08:15:41","modified_gmt":"2023-11-02T08:15:41","slug":"qualcomm-stock-rises-after-company-beats-earnings-and-revenue-estimates","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=5921","title":{"rendered":"Qualcomm Stock Rises After Company Beats Earnings and Revenue Estimates"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Qualcomm provided a higher-than-expected revenue forecast for the December quarter at the midpoint of its guidance range, sending its stock higher in after-hours trading Wednesday.<\/p>\n

For the September quarter,
\n Qualcomm
\n (ticker: QCOM) reported adjusted earnings of $2.02 a share, compared with Wall Street\u2019s consensus estimate of $1.91, according to FactSet. Revenue came in at $8.7 billion, which was above analysts\u2019 expectations of $8.5 billion.<\/p>\n

\n

The good news was the guidance. Qualcomm gave a revenue forecast for the current quarter, ending in December, of $9.1 billion to $9.9 billion\u2014which was above the consensus of $9.2 billion at the midpoint of the range.<\/p>\n

Qualcomm shares rose 4.4% to $115.73 in after-hours trading Wednesday following the release. The company is a maker of mobile processors and 5G wireless chipsets.<\/p>\n

Qualcomm shares have fallen about 16% over the past three months, roughly in line with the 15% drop of the
\n iShares Semiconductor exchange-traded fund
\n (SOXX), which tracks the ICE Semiconductor Index.<\/p>\n

Write to Tae Kim at tae.kim@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Qualcomm provided a higher-than-expected revenue forecast for the December quarter at the midpoint of its guidance range, sending its stock higher in after-hours trading Wednesday. For the September quarter, Qualcomm (ticker: QCOM) reported adjusted earnings of $2.02 a share, compared with Wall Street\u2019s consensus estimate of $1.91, according to FactSet. Revenue came in at $8.7 billion, which was above analysts\u2019 expectations of $8.5 billion. The good news was the guidance. Qualcomm gave a revenue forecast for the current quarter, ending in December, of $9.1 billion to $9.9 billion\u2014which was above the consensus of $9.2 billion at the midpoint of the<\/p>\n","protected":false},"author":1,"featured_media":5922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[],"class_list":["post-5921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"yoast_head":"\nQualcomm Stock Rises After Company Beats Earnings and Revenue Estimates | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"Qualcomm provided a higher-than-expected revenue forecast for the December quarter at the midpoint of its guidance range, sending its stock higher in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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