Qualcomm Q4 results beat expectations amid high 5G demand

Qualcomm Q4 Results Beat Estimates as Chip Sales Ride 5G Demand Higher

On Wednesday, Qualcomm posted Q4 earnings, revenue that beat the experts’ anticipations after high demand for 5G chips gets a sales to boost. The firm gained 10% in after-market hour trade session.

Further, the venture announced revenue of $6.5 billion and EPS of $1.45 and topped the experts’ forecast of $5.9 billion and $1.17 EPS. The organisation has predicted an EPS in the range $1.95 and $2.15 on revenue of $7.8 billion and $8.6 billion for the coming Q1 reports.

Qualcomm’s chip sales grew around 13% to touch $162 million, thus, reaching its upper range from previous guidance of $145 M and $165M. Moreover, the firm’s other arms Qualcomm Technology Licensing (QTL), the licensing business operation, and Qualcomm CDMA Technology (QCT), the semiconductor operations, both grew and beat the experts’ predictions. QTL beat the range guidance of $1.2 billion and 1.4 billion by posting $1.51 billion in revenue. QCT revenue surged 28% exceeding the projection of $4.9 billion by reporting $4.97B in revenue.

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