Tags: Qualcomm | Shares | Results | Outlook

Qualcomm Shares Jump on Strong Results, Outlook

Wednesday, 30 Jan 2013 04:33 PM

 

Qualcomm Inc. beat Wall Street expectations for its fiscal first-quarter earnings and raised its financial targets for 2013 due to growing demand for smartphones and high-speed wireless services.

Shares in the leading supplier of chips cellphones rose 6 percent in after-market trade on Wednesday after it raised its full-year revenue guidance to a range of $23.4 billion to $24.4 billion from its previous target of $23 billion to $24 billion.

It raised its earnings-per-share target to a range of $4.25 to $4.45 from its previous forecast range of $4.12 to $4.32.

Qualcomm posted a profit of $1.91 billion or $1.09 per share for the quarter ended Dec. 30, compared with a profit of $1.4 billion or 81 cents per share in the year-ago quarter.

Excluding unusual items, the San Diego-based company reported earnings per share of $1.26 compared with Wall Street expectations of $1.13, according to Thomson Reuters I/B/E/S.

Revenue rose to $6.02 billion from $4.68 billion in the year-ago quarter and compared with Wall Street expectations for $5.9 billion, according to Thomson Reuters I/B/E/S.

Qualcomm shares rose to $67.50 in late trade after closing at $63.53 in the regular Nasdaq session.

© 2015 Thomson/Reuters. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved