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 34% from the beginning of the year and are trading at $148.88 , down-from-52-week-high.They are under-performing the Nasdaq which is down 23.09% from the start of the year.
Qualcomm shares lost 2.96% in after-hours trade after 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.
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