Categories AlphaGraphs, Earnings, Technology
QCOM Earnings: Qualcomm Q2 revenues rise 41%; profit tops expectations
Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) on Wednesday reported stronger-than-expected earnings and revenues for the second quarter of 2022 amid continued uptick in microprocessor demand across industries. The company also provided guidance for the third quarter.
At $11.2 billion, second-quarter revenues were up 41% from the prior-year quarter and well above the consensus forecast. The top line benefited from elevated chip demand and the company’s investments in 5G technology.
Net income was $2.93 billion or $2.57 per share, compared to $1.76 billion or $1.53 per share in the second quarter of 2021. Adjusted profit moved up to $3.21 per share from $1.90 per share last year and topped the Street view.
Check this space to read management/analysts’ comments on Qualcomm’s Q2 results
Qualcomm’s shares dropped around 27% since the beginning of the year. Following the earnings announcement, the stock made strong gains Wednesday evening, after closing the regular session higher.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Broadcom (AVGO) reports higher Q3 revenue and profit; results beat estimates
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) reported higher revenues and adjusted earnings for the third quarter of 2024 amid continued strong demand. The Q3 numbers also topped expectations. Earnings, excluding
Key takeaways from Hewlett Packard’s (HPE) Q3 2024 earnings report
Hewlett Packard Enterprise (NYSE: HPE) has delivered stronger-than-expected third-quarter results amid significant conversion in AI system revenues. The prospects for the company's AI server and edge computing businesses look promising
Hormel Foods (HRL): Factors that put a damper on the food company’s Q3 performance
Shares of Hormel Foods Corporation (NYSE: HRL) were up over 2% on Thursday. The stock is recovering from a fall it took a day ago after the company delivered mixed