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 $3.23 on revenue of $10.7B. Analysts polled by Investing.com anticipated EPS of $3 on revenue of $10.44B.
Qualcomm shares are up 2% from the beginning of the year and are trading at $174.34 , down-from-52-week-high.They are outperforming the Nasdaq which is down 7.85% from the start of the year.
Qualcomm shares lost 7.36% in after-hours trade the report.
Qualcomm follows other major Information Technology sector earnings this month
Qualcomm's report follows an earnings beat by Apple on Thursday, January 27, 2022, who reported EPS of $2.1 on revenue of $123.95B, compared to forecasts EPS of $1.9 on revenue of $119B.
Microsoft had beat expectations on Tuesday, January 25, 2022 with second quarter EPS of $2.48 on revenue of $51.73B, compared to forecast for EPS of $2.32 on revenue of $50.71B.
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