Qualcomm Soars After Strong Earnings and Chip Disclosures: 6 Key Takeaways

Qualcomm  (QCOM) – Get Report is soaring to new highs after posting strong results and guidance, making new disclosures about its massive chip unit and offering an upbeat outlook for 2021 5G phone sales.

After the bell on Wednesday, Qualcomm reported September quarter (fiscal fourth quarter) revenue of $6.5 billion (up 35% annually) and non-GAAP EPS of $1.45 (up 86%), comfortably beating FactSet consensus estimates of $5.9 billion and $1.17.

For the December quarter, Qualcomm guided for revenue of $7.8 billion to $8.6 billion and non-GAAP EPS of $1.95 to $2.15. Those ranges are respectively above consensus estimates of $7.14 billion and $1.69, and they imply 62% and 107% annual growth at their midpoints.

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