24/7 Wall St.
Live: Will Qualcomm Smash Q4 Earnings Tonight After the Market Closes?
xCruzo Brief
Qualcomm is set to report fiscal Q4 after the market closes on November 4, and investors will treat it as a crucial milestone before Apple’s revenue declines and data-center sales ramp up. Trading ahead of earnings, the stock is around $164.82. In the prior quarter, Qualcomm posted revenue of $9.95B versus $9.67B expected, but EPS of $2.21 missed by 0.49%, ending a six-quarter streak of beats. Handset revenue fell 20% year over year to $5.086B, while automotive rose 61% to $1.588B for the 23rd straight quarter of double-digit growth. The CEO, Cristiano Amon, cited unprecedented memory prices, costs, and supply-chain shortages tied to data-center demand.
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