Qualcomm earnings (NASDAQ:QCOM) were posted late in the day on Wednesday, with its latest results impressing and helping to lift QCOM stock up after the bell. The company also impressed due to the fact that its guidance for its current quarter is slated to be better than what Wall Street projects.

The semiconductor maker said that for its first quarter of its fiscal 2018, it brought in adjusted earnings of $1.20 per share, which is higher than the $1.09 per share that analysts were calling for, according to data that had been compiled by a survey conducted by Refinitiv.

Qualcomm added that for the period, the company managed to amass revenue of roughly $4.81 billion. The figure was below what the Wall Street consensus estimate called for in sales of $4.9 billion, according to Refinitiv.

CEO Steve Mollenkopf said the company’s strong earnings showing was “driven by strong product leadership and operating expense management.” He added that Qualcomm is still seeking to expand on some of its most advanced technological goals, including 5G connectivity.

Plus, the San Diego-based company said it projects earnings in the range of 65 cents to 75 cents per share for its second quarter, in line with the 68 cents per share that analysts are expecting. The company also sees its revenue between $4.4 billion and $5.2 billion, in line with the $4.8 billion from Wall Street.

QCOM stock is increasing roughly 2.6% after the bell following the company’s strong quarterly earnings showing. Shares had been gaining about 1.6% during regular trading hours as the company geared up to report for its first quarter.