Saturday, May 8, 2021
HomeTechnologyQualcomm results top expectations amid "milestone quarter"

Qualcomm results top expectations amid “milestone quarter”

Chipmaker Qualcomm on Wednesday reported gross sales and earnings that topped expectations, sending its shares larger. The outcomes got here amid stronger-than-anticipated smartphone shipments and licensing income.

Why it issues: Qualcomm is a serious drive within the wi-fi trade and arguably the most important U.S.-based participant in 5G.

By the numbers: The corporate reported adjusted earnings of $1.45, above its prior steering, on adjusted income of $6.5 billion, additionally above the vary that the corporate had mentioned to count on.

Shares of Qualcomm rose in after-hours buying and selling, altering fingers just lately at $136, up $7.03, or greater than 5%.

What they’re saying: Qualcomm President Cristiano Amon advised Axios that 5G telephones are reaching scale and the corporate’s non-smartphone companies are additionally doing higher than anticipated.

“5G is sweet for Qualcomm,” he mentioned. “I feel it is a milestone quarter for us.”

Ravi Ahuja
Anoj Kumar is a journalist for Honk News. After graduating from the Delhi University, Anoj got an internship at a morning radio show and worked as a journalist and producer. Anoj has also worked as a columnist for the Trending Clicks. Anoj covers Gaming and Entertainment events for Honk News.
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