Qualcomm tops estimates but gives light revenue forecast

Qualcomm CEO Cristiano Amon responds to a question during a keynote conversation at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, on Jan. 10, 2024. Qualcomm reported fiscal second-quarter earnings on Wednesday that topped Wall Street expectations as the company's chip sales showed strong year-over-year growth. Qualcomm shares fell in extended trading as the company's revenue forecast for the current quarter was slightly lighter than expectations. Here's how the chipmaker did compared to Wall Street expectations, based on a survey of analysts by LSEG: Earnings per share : $2.85 adjusted vs. $2.82 expected : $2.85 adjusted vs. $2.82 expected Revenue: $10.84 billion adjusted vs. $10.66 billion expected In the current quarter, Qualcomm said it expected $2.70 at the midpoint in adjusted earnings per share on $10.3 billion in revenue at the midpoint. Analysts polled by LSEG were looking for $2.67 in adjusted earnings on $10.35 billion in sales in the curren ... Read full article.