Qualcomm (NASDAQ: QCOM) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The semiconductor manufacturer reported first-quarter revenue of $8.24 billion, up 62% year-over-year, but slightly below the Wall Street projection. Net income of $2.17 per share was, meanwhile, higher than what analysts had anticipated.
QCOM shares fell over 8% immediately following the announcement. The stock has rallied 88% in the trailing twelve months.
CEO Steve Mollenkopf said in a statement, “We remain well-positioned as the 5G ramp continues and we extend our core technology roadmap to adjacent industries.”
Notably, starting this quarter, the semiconductor firm has stopped reporting MSM chip shipments figure.
Prior performance
Most Popular
Electronic Arts (EA) Q4 earnings drop and miss estimates; revenue down 3%
Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings
What lies in store for Tyson Foods (TSN) this year?
Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the
Virgin Galactic (SPCE) fails to impress market amid looming uncertainty
Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight
