Categories AlphaGraphs, Earnings, Technology
QCOM Earnings: Qualcomm Q3 revenues rise 36%; profit tops expectations
Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported stronger-than-expected earnings and revenues for the third quarter of 2022 amid continued uptick in microprocessor demand. The company also provided guidance for the fourth quarter of 2022.
At $10.9 billion, third-quarter revenues were up 36% from the prior-year quarter and well above the consensus forecast. The top line benefited from elevated chip demand.
Net income was $3.73 billion or $3.29 per share, compared to $2.03 billion or $1.77 per share in the third quarter of 2021. Adjusted profit moved up to $2.96 per share from $1.92 per share last year and topped the Street view.
Check this space to read management/analysts’ comments on Qualcomm’s Q3 results
Qualcomm’s shares have lost around 22% since the beginning of the year. The stock traded lower on Thursday morning, extending the post-earnings dip.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
AAPL Earnings: Apple’s Q2 sales and profit beat estimates; iPhone sales down 10%
Apple Inc. (NASDAQ: AAPL) on Thursday reported better-than-expected profit and revenue for the second quarter of 2024. There was a 10% decrease in iPhone sales. The gadget giant reported revenues
Shopify (SHOP) is all set to report Q1 2024 results. Here’s what to expect
Over the years, Shopify Inc. (NYSE: SHOP) has steadily expanded its footprint in the online retail market through constant innovation, like the recent launch of a mobile POS device for
eBay (EBAY): A look at how the ecommerce company fared in Q1 2024
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and