Investing.com - Qualcomm (NASDAQ:QCOM) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Qualcomm announced earnings per share of $0.99 on revenue of $5.08B. Analysts polled by Investing.com anticipated EPS of $0.85 on revenue of $4.83B. That with comparison to EPS of $1.2 on revenue of $4.82B in the same period a year before.Qualcomm had reported EPS of $0.78 on revenue of $4.8B in the previous quarter.Analysts are expecting EPS of $0.86 and revenue of $5.1B in the upcoming quarter.
Qualcomm shares are up 3% from the beginning of the year and are trading at $93.00 , down-from-52-week-high.They are broadly in line with the S&P 500 which is up 2.78% year to date.
Qualcomm shares gained 2.30% in after-hours trade following the report.
Qualcomm follows other major Technology sector earnings this month
Qualcomm's report follows an earnings beat by Apple on Tuesday, January 28, 2020, who reported EPS of $4.99 on revenue of $91.82B, compared to forecasts EPS of $4.54 on revenue of $88.51B.
Microsoft had beat expectations on Wednesday, January 29, 2020 with second quarter EPS of $1.51 on revenue of $36.91B, compared to forecast for EPS of $1.05 on revenue of $32,512M.
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