Categories AlphaGraphs, Earnings, Technology
Infographic: Highlights of Qualcomm’s (QCOM) Q4 2020 earnings report
Qualcomm Inc. (NASDAQ: QCOM) reported stronger-than-expected earnings and revenues for the fourth quarter of 2020, driving the stock higher on Wednesday evening. The company also provided guidance for the first quarter.
At $8.35 billion, unadjusted revenues were up 73% compared to last year and far above the consensus forecast. Adjusted profit moved up to $1.45 per share from $0.78 per share in the prior-year quarter and topped the Street view.
Net income was $2.96 billion or $2.58 per share, compared to $506 million or $0.42 per share in the fourth quarter of 2019. The results benefited from the company’s investments in 5G and contributions from the licensing and product businesses.
Read management/analysts’ comments on Qualcomm’s Q4 results
After recovering from the COVID-related selloff in March, Qualcomm’s shares hit a record high last month. The stock closed Wednesday’s regular trading higher and gained further following the earnings report.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
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