Investing.com - Qualcomm (NASDAQ:QCOM) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Qualcomm announced earnings per share of $0.99 on revenue of $5.08B. Analysts polled by Investing.com anticipated EPS of $0.85 on revenue of $4.83B. That with comparison to EPS of $1.2 on revenue of $4.82B in the same period a year before.Qualcomm had reported EPS of $0.78 on revenue of $4.8B in the previous quarter.Analysts are expecting EPS of $0.86 and revenue of $5.1B in the upcoming quarter.
Qualcomm shares are up 3% from the beginning of the year and are trading at $93.00 , down-from-52-week-high.They are broadly in line with the S&P 500 which is up 2.78% year to date.
Qualcomm shares gained 2.30% in after-hours trade the report.
Qualcomm follows other major Technology sector earnings this month
Qualcomm's report follows an earnings beat by Apple on Tuesday, January 28, 2020, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on Wednesday, January 29, 2020 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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