Qualcomm Earnings beat, Revenue misses In Q1 By Investing.com

Qualcomm (NASDAQ:QCOM) reported on Wednesday first quarter earnings that beat analysts’ forecasts and revenue that fell short of expectations.

Qualcomm announced earnings per share of $2.17 on revenue of $8.23B. Analysts polled by Investing.com anticipated EPS of $2.1 on revenue of $8.24B.

Qualcomm shares are up 6% from the beginning of the year and are trading at $151.05 , down-from-52-week-high.They are broadly in line with the Nasdaq which is up 5.6% from the start of the year.

Qualcomm shares lost 6.99% in after-hours trade the report.

Qualcomm follows other major Technology sector earnings this month

Qualcomm’s report follows an earnings beat by Apple on January 27, who reported EPS of $1.68 on revenue of $111.44B, compared to forecasts EPS of $1.42 on revenue of $103.27B.

Microsoft had beat expectations on January 26 with second quarter EPS of $2.03 on revenue of $43.08B, compared to forecast for EPS of $1.64 on revenue of $40.22B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar