Qualcomm Beats Expectations With 12% Increase in Phone Chip Sales
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Las Vegas — Qualcomm’s fiscal third-quarter earnings beat Wall Street forecasts, delivering solid results and an upbeat outlook for the next quarter.
In a press conference during CES 2022, Qualcomm Chairman and CEO Cristiano Amon discussed the company's performance. Following the earnings report, Qualcomm shares jumped more than 6% in after-hours trading.
For the quarter ended June 23, Qualcomm's results were as follows versus LSEG consensus estimates:
Earning per share: $2.33 (adjusted) vs. $2.25 expected
Income: $9.39 billion (adjusted) vs. $9.22 billion expected
Net income for the quarter reached $2.13 billion, or $1.88 a share, up from $1.8 billion, or $1.60 a share, in the same period last year.
Looking ahead, Qualcomm forecasts sales of $9.5 billion to $...