Qualcomm Earnings, Revenue Beat in Q3
2022.07.28 00:25
Qualcomm Earnings, Revenue Beat in Q3
Investing.com – Qualcomm (NASDAQ:QCOM) reported on Wednesday third quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Qualcomm announced earnings per share of $2.96 on revenue of $10.93B. Analysts polled by Investing.com anticipated EPS of $2.89 on revenue of $10.87B.
Qualcomm shares are down 16% from the beginning of the year, still down 20.75% from its 52 week high of $193.58 set on January 5. They are broadly in line with the S&P 500 which is down 15.65% from the start of the year.
Qualcomm shares lost 4.18% in after-hours trade following the report.
Qualcomm follows other major Information Technology sector earnings this month
Qualcomm’s report follows an earnings missed by Microsoft on Tuesday, who reported EPS of $2.23 on revenue of $51.87B, compared to forecasts EPS of $2.29 on revenue of $52.43B.
Visa A had beat expectations on Tuesday with third quarter EPS of $1.98 on revenue of $7.28B, compared to forecast for EPS of $1.74 on revenue of $7.06B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
