Tags: Qualcomm | Profit | Outlook | Shares

Qualcomm Raises Profit Outlook; Shares Rise

Wednesday, 24 Jul 2013 04:41 PM

Leading mobile chipmaker Qualcomm Inc. raised its 2013 profit outlook, giving its stock a boost, even as its current-quarter revenue estimate missed Wall Street expectations.

Qualcomm posted fiscal third-quarter revenue of $6.24 billion and net income of $1.58 billion, or 90 cents a share, boosted by growing demand for smartphones in Asia.

It said revenue in the current quarter, which ends in September, would range from $5.9 billion to $6.6 billion.

Analysts on average had expected third-quarter revenue of $6.055 billion and fourth-quarter revenue of $6.293 billion, according to Thomson Reuters I/B/E/S.

For the fiscal third quarter, non-GAAP earnings per share were $1.03, in line with expectations.

Qualcomm estimated 2013 non-GAAP earnings of $4.48 to $4.56 per share. Its previous forecast was $4.40 to $4.55.

Shares of Qualcomm rose 1.66 percent in extended trade Wednesday after closing down 1.46 percent at $61.39 on Nasdaq.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
Leading mobile chipmaker Qualcomm Inc. raised its 2013 profit outlook, giving its stock a boost, even as its current-quarter revenue estimate missed Wall Street expectations.
Qualcomm,Profit,Outlook,Shares
144
2013-41-24
Wednesday, 24 Jul 2013 04:41 PM
Newsmax Inc.
 

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