Qualcomm Earnings: QCOM Stock Surges 5% on Q4 Earnings Beat

Qualcomm (NASDAQ:QCOM) earnings for the maker of semiconductor and telecommunications equipment’s fiscal fourth quarter of 2019 have QCOM stock up in after-hours trading on Wednesday. This is thanks to its adjusted earnings per share of 78 cents. That’s well above Wall Street’s estimate of 71 cents. Revenue of $4.81 billion is also above analysts’ estimates of $4.70 billion for the quarter.

Qualcomm Earnings: QCOM Stock Surges 5% on Q4 Earnings Beat

Source: Akshdeep Kaur Raked / Shutterstock.com

Let’s see what else is worth mentioning from the most recent Qualcomm earnings report.

  • Adjusted EPS for the quarter comes in 13.34% lower than 90 cents in the fiscal fourth quarter of 2018.
  • Revenue is down 16.78% YoY from $5.78 billion.
  • Qualcomm earnings for fiscal Q4 2019 also have it reporting operating profit instead of a loss from the same time last year.
  • The same also holds true for the company’s net income reported during the current quarter.

Steve Mollenkopf, CEO of Qualcomm, has this to say about the QCOM stock earnings.

“We exit the fiscal year having successfully executed on our strategic priorities: helping to drive the commercialization of 5G globally, completing a number of important anchor license agreements and executing well across our product roadmap. Our technology and inventions leave us extremely well positioned as 5G accelerates in 2020.”

The Qualcomm earnings report also includes an outlook for its fiscal first quarter of 2020. This has the company expecting adjusted per-share earnings between 80 cents and 90 cents. It’s also looking for revenue ranging from $4.40 billion and $5.20 billion. Wall Street is estimating fiscal Q1 2020 EPS of 83 cents on revenue of $4.86 billion.

QCOM stock was up 4.87% after the markets closed on Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/11/qualcomm-earnings-send-qcom-stock-up/.

©2023 InvestorPlace Media, LLC