From Financial Modeling Prep: 2024-11-07 07:44:00

Qualcomm (NASDAQ:QCOM) surged over 8% in pre-market trading following strong fourth-quarter results and optimistic guidance, reflecting a rebound in smartphone chip demand. The company also unveiled a $15 billion stock buyback program.

In Q4, Qualcomm reported adjusted EPS of $2.69 on revenue of $10.24 billion, beating analysts’ expectations of $2.56 EPS on $9.9 billion revenue. Sales in its handset chip division rose 12% to $6.10 billion year-over-year.

For the first fiscal quarter, Qualcomm forecasted adjusted EPS of $2.85 to $3.05, with revenue expected to be between $10.5 billion and $11.3 billion. This guidance surpasses analyst estimates of $2.87 EPS on $10.61 billion revenue.



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