Qualcomm beat Wall Street expectations for its fiscal second quarter as chip sales posted strong year-over-year growth, according to CNBC. The company reported adjusted earnings of $2.85 per share on $10.84 billion in revenue, surpassing Wall Street expectations. Forecasted third-quarter adjusted earnings were $2.70 per share on $10.3 billion in revenue at the midpoint. Shares fell in extended trading after issuing a slightly weaker-than-expected revenue forecast for the current quarter. The earnings estimate topped expectations, but the revenue outlook fell slightly below. CFO Akash Palkhiwala emphasized the company's highly diversified global supply chain during the earnings call.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Qualcomm beat Wall Street expectations for its fiscal second quarter as chip sales posted strong
00:07year-over-year growth, that according to CNBC. The company reported adjusted earnings of $2.85
00:12per share on $10.84 billion in revenue, surpassing Wall Street expectations. Forecasted third
00:19quarter adjusted earnings were $2.70 per share on $10.3 billion in revenue at the midpoint.
00:25Shares fell on extended trading after issuing a slightly weaker than expected
00:28revenue forecast for the current quarter. The earnings estimate exceeded expectations,
00:34but the revenue outlook fell slightly below. CFO Akash Pakawala emphasized the company's
00:40highly diversified global supply chain during the earnings call.
00:44For all things money, visit Benzinga.com slash GSTV.