Qualcomm (QCOM) reported earnings after the bell on Wednesday. The company’s report was one of the rare reports that delighted investors from the tech sector this quarter. It highlights why Qualcomm will remain one of the core positions in my portfolio even in these volatile markets.
Key earnings highlights for Qualcomm:
- Revenue came in at $4.87B versus expectations of $4.66B. The company credited the revenue increase to the launch of the latest iPhone from Apple (AAPL) at the end of the quarter and the popularity of smartphones from Samsung.
- The company also provided next quarter guidance of between $5.6B and $6.1B, this range was above consensus calling for $5.6B in sales in the quarter.
- Qualcomm also called for robust full-year 2013 revenue growth in a range of 20 percent to 26 percent.
- Finally, earnings came in at 89 cents a share, a full 7 cents above estimates.
4 additional reasons QCOM is heading higher from $62 a share:”
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