Qualcomm Inc. (QCOM) Profit Rises 24 Percent
Qualcomm Inc (NasdaqGS:QCOM - News) posted a quarterly profit that rose 24 percent on Wednesday, handily beating Wall Street estimates on strong demand for high-end mobile phones using its chips and technology licenses.
Its shares rose as much as 3.5 percent in after hours trade after the company also raised its full-year earnings and revenue outlook on rising average phone prices.
Qualcomm's net profit rose to $798 million, or 47 cents share for its fiscal third quarter ended in June, from $643 million, or 37 cents a share in the year-ago quarter.
Excluding its investment arm, Qualcomm said it earned 55 cents per share compared with average analyst expectations for 51 cents per share, according to Reuters Estimates.
Its shares rose as much as 3.5 percent in after hours trade after the company also raised its full-year earnings and revenue outlook on rising average phone prices.
Qualcomm's net profit rose to $798 million, or 47 cents share for its fiscal third quarter ended in June, from $643 million, or 37 cents a share in the year-ago quarter.
Excluding its investment arm, Qualcomm said it earned 55 cents per share compared with average analyst expectations for 51 cents per share, according to Reuters Estimates.
Labels: QCOM, Qualcomm Inc.
posted by Stock Administrator @ 6:20 PM
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