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Qualcomm fiscal Q2 results top estimates on smartphone demand recovery

Investing.com -- Qualcomm reported Wednesday fiscal second-quarter results that topped Wall Street estimates, underpinned by improved chip sales amid an ongoing recovery in smartphone demand.

Qualcomm Incorporated (NASDAQ:QCOM) rose 4% in afterhours trading following the news.  

Qualcomm reported adjusted earnings of $2.44 per share on revenue of $9.39 billion, beating projections of $2.32 and $9.34B, according to an Investing.com forecast based on a poll of analysts.

The beat on the top and bottom lines were driven by by handset chip sales rising 1% to $6.18B in Q2 from a year earlier. 

For Q3, the company guided adjusted EPS in a range of $2.15 to $2.35 on revenue of revenue in the range of $8.8B to $9.6B, in-line with analyst estimates for adjusted EPS of $2.18 on revenue of $9.04B.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.