Investing.com - Qualcomm (NASDAQ:QCOM) reported first quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.2 on revenue of $4.82B. Analysts polled by Investing.com anticipated EPS of $1.09 on revenue of $4.9B. That compared to EPS of $0.98 on revenue of $6.07B in the same period a year earlier. The company had reported EPS of $0.9 on revenue of $5.83B in the previous quarter.
For the year, Qualcomm shares are down 11.84%, under-performing the S&P 500 which is up 8.65% year to date.
Qualcomm follows other major Technology sector earnings this month
On Wednesday, Microsoft reported second quarter EPS of $1.08 on revenue of $32.47B, compared to forecasts of EPS of $1.09 on revenue of $32.53B.
Apple earnings beat analyst's expectations on Tuesday, with first quarter EPS of $4.18 on revenue of $84.31B. Investing.com analysts expected EPS of $4.17 on revenue of $84.03B
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