Qualcomm: Q4 EPS up a third

(CercleFinance.com) - On Wednesday evening, Qualcomm reported a 33% increase in adjusted net income (non-GAAP) at $3.
04bn for Q4, i.e. EPS of $2.69, above the upper limit of its target range set three months ago.

The chipmaker's adjusted pre-tax profit also rose by 33% to $3.49bn, on revenues that are up 18% to over $10.2bn, notably with a 68% jump in automotive revenues in the QCT segment.

For the current quarter, Qualcomm anticipates adjusted EPS of $2.85 to $3.05, as well as revenues of $10.5bn and $11.3bn. It also plans to provide an update on its growth and diversification initiatives on 19 November.

In addition, its Board of Directors has authorized a new $15bn share buyback program, with no expiration date, in addition to the $1bn remaining from its October 2021 authorization.


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