Breaking News
May 2, 2024
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Qualcomm increased 5.2% to $172.78 after the advanced chipmaker reported better-than-expected earnings in its latest quarter and issued strong guidance for the current quarter.
Revenue in the fiscal second quarter ending on March 24 rose 1% to $9.38 billion, net income surged 37% to $2.3 billion from $1.7 billion, and diluted earnings per share advanced 36% to $2.06 from $152 a year ago.
During the fiscal second quarter, the company returned $1.6 billion to stockholders, including cash dividends of $895 million, or 80 cents per share, and $731 million through repurchases of 5 million shares of its own common stock.
The company guided fiscal third quarter revenue to range between $8.8 billion and $9.6 billion and GAAP earnings per share between $1.74 and $1.94.
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