Home Technology Qualcomm results top expectations amid "milestone quarter"

Qualcomm results top expectations amid “milestone quarter”

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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.

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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%.

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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.”

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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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