Telecommunications company, QUALCOMM, Inc.( QCOM ) reported an increase in earnings, beating analysts expectations Thursday.
The San Diego, CA based company reported forth quarter earnings of $1.27 billion, or 73 cents per share, up 16% from $1.06 billion, or 62 cents per share last year. Non-GAAP earnings for the quarter were $1.547 billion, or 89 cents per share, up from $1.372 billion or 80 cents per share last year. Analysts expected EPS of 82 cents.
Revenue increased 15% to $4.871 billion for the quarter from $4.117 billion last year. Analysts expected to see revenue of $4.66 billion.
Looking ahead, the company expects to see first quarter earnings in the range of 90 cents to 98 cents.
Qualcomm shares were up $4.68, or 8.05% during premarket trading Thursday.
The Bottom Line
Shares of Qualcomm ( QCOM ) have a 1.72% dividend yield, based on last night's closing stock price of $58.12. The stock has technical support in the $54-$56 price area. If the shares can firm up, we see overhead resistance around the $62-$64 price levels.
QUALCOMM, Inc.( QCOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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