Qualcomm delighted stockbrokers with earnings guidance



In the past fourth quarter, the revenue of the chip group fell by 17 percent to 4.81 billion dollars.

(Photo: AP)

San Francisco The chip maker has pleased the stock market with its profit forecast for the first quarter. The company forecasted adjusted earnings of $ 1.20 per share for the three-month period. The estimate exceeded analysts' expectations averaging 83 cents per share. The QualcommAs a result, shares jumped five percent in after-hours trading.

In the past fourth quarter, sales dropped 17 percent to 4.81 billion dollars. However, analysts had expected a larger decline to $ 4.70 billion.

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