Qualcomm Stock Rises On Strong Earnings. Smartphone Demand Remains Strong.

Qualcomm shares are rising successful precocious trading Wednesday aft the supplier of mobile telephone chips posted better-than-expected quarterly results and offered beardown guidance for its existent quarter, driven by beardown smartphone demand.

For the fiscal 4th fourth ended Sept 26, Qualcomm (ticker: QCOM) reported gross of $9.26 billion, up 43% from a twelvemonth ago. That’s supra the company’s guidance scope of $8.4 cardinal to $9.2 cardinal and the Wall Street statement forecast of $8.86 billion.

Adjusted...