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
These fast-food stocks can strengthen your portfolio this year. Here’s why
For American restaurant chains, the early months of the pandemic were a challenging period. But soon things changed for the better as people started ordering their favorite food items online
What to expect when McCormick & Company (MKC) reports Q1 results next week
Shares of McCormick & Company, Incorporated (NYSE: MKC) were up over 2% on Friday. The stock has dropped 12% year-to-date. The condiments manufacturer is scheduled to report its first quarter 2023
KB Home (KBH) Earnings: 1Q23 Key Numbers
KB Home (NYSE: KBH) reported total revenues of $1.38 billion for the first quarter of 2023 which was relatively flat compared to the same period last year. Net income of
