Qualcomm (QCOM) Shares Down 2% Despite Q1 Beat & Better Than Expected Guidance
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China smartphone demand helps lift forecasts for chipmaker Qualcomm
February 2, 2022 4:21 PM ESTBy Tiyashi Datta and Jane Lanhee Lee
(Reuters) -Qualcomm Inc posted record first-quarter revenue on Wednesday and beat Wall Street forecasts for the current quarter, boosted by strong growth in the Android business and demand from China's handset makers.
The U.S. chips firm forecast second-quarter revenue between $10.2 billion and $11 billion, above analysts' estimates of $9.61 billion, according to IBES data from Refinitiv.
The company has benefited from the exit of Huawei Technologies from the smartphone market, which has led other Chinese phone brands - including Xiaomi,... More
Qualcomm (QCOM) Tops Q1 EPS by 22c, Q2 Guidance Beats
February 2, 2022 4:04 PM ESTQualcomm (NASDAQ: QCOM) reported Q1 EPS of $3.23, $0.22 better than the analyst estimate of $3.01. Revenue for the quarter came in at $10.7 billion versus the consensus estimate of $10.41 billion.
GUIDANCE:
Qualcomm sees Q2 2022 EPS of $2.80-$3.00, versus the consensus of $2.49. Qualcomm sees Q2... More
