Qualcomm tops estimates for earnings and revenue
Qualcomm Q1 Earnings Highlights: Record Revenue, EPS Beat Estimates, 'Growth Across Our Diversification Initiatives'
What Happened: Qualcomm reported record first-quarter revenue of $11.7 billion, up 17 % year-over-year. The revenue total beat a Street consensus estimate of $10.93 billion, according to data from Benzinga Pro.
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The company also sells chips to the automotive industry, and that business grew by an impressive 61%, raking in $961 million in sales. It’s a relatively new market for Qualcomm, which only began to ...
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