Qualcomm: Q1 EPS up 16%

(CercleFinance.com) - On Wednesday evening, Qualcomm reported a 16% increase in adjusted net income to $3.
1bn for Q1 2023-24, i.e. $2.75 per share, well above its target range of $2.25 to $2.45 per share.

Also on a non-GAAP basis, the wireless technology group's operating profit increased 13% to $3.58bn, on revenues that rose 5% to $9.92bn, above a target range of $9.1bn to $9.9bn.

Satisfied with these figures, which are higher than its forecasts of three months ago, Qualcomm anticipates adjusted EPS of between $2.20 and $2.40, as well as revenues of between $8.9bn and $9.7bn for its second accounting quarter.


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