Core Viewpoint - Qualcomm's stock has been downgraded from a "buy" to a "neutral" rating by Citi analyst Christopher Danely, despite maintaining a price target of $160 per share, indicating a potential increase of 7.7% from its prior close [1][2]. Group 1 - The downgrade reflects disappointment with Qualcomm's recent earnings report, leading to a reassessment of the company's growth prospects [2]. - The analyst noted that the previous upgrade was based on expectations of market share gains at Samsung and a belief in a "beat and raise" cycle, which now appears to be ending [2]. - As of Thursday morning, Qualcomm's stock is down 2.4% following the downgrade [2]. Group 2 - The consensus rating among analysts remains a moderate buy based on 22 opinions, with a consensus price prediction of $145.78 per share, which is below Citi's target [1].

First Quarter Fiscal 2024 Earnings Note Regarding Forward-Looking Statements In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to: statements regarding our growth and diversification opportunities, including those in Automotive, IoT and the artificial intelligence (AI) space; our business, product and technology strategies, including our diversif ...

QUALCOMM Incorporated (NASDAQ:QCOM) Q1 2024 Earnings Conference Call January 31, 2024 4:45 PM ET Company Participants Mauricio Lopez-Hodoyan - VP, IR Cristiano Amon - President & CEO Akash Palkhiwala - CFO Conference Call Participants Samik Chatterjee - JPMorgan Matt Ramsay - TD Cowen Mike Walkley - Canaccord Genuity Stacy Rasgon - Bernstein Research Chris Caso - Wolfe Research Timothy Arcuri - UBS Ross Seymore - Deutsche Bank Tom O'Malley - Barclays Tal Liani - Bank of America Operator Ladies and gentlemen ...

For the quarter ended December 2023, Qualcomm (QCOM) reported revenue of $9.94 billion, up 5.1% over the same period last year. EPS came in at $2.75, compared to $2.37 in the year-ago quarter.The reported revenue represents a surprise of +4.52% over the Zacks Consensus Estimate of $9.51 billion. With the consensus EPS estimate being $2.38, the EPS surprise was +15.55%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...

Qualcomm (QCOM) came out with quarterly earnings of $2.75 per share, beating the Zacks Consensus Estimate of $2.38 per share. This compares to earnings of $2.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.55%. A quarter ago, it was expected that this chipmaker would post earnings of $1.92 per share when it actually produced earnings of $2.02, delivering a surprise of 5.21%.Over the last four quarters, the company has su ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Qualcomm Inc (NASDAQ: QCOM) is trading up in extended hours on Wednesday after reporting market-beating results for its fiscal first quarter.Qualcomm’s guidance for the current quarterCopy link to sectionThe stock is in the green also because the chipmaker issued in-line revenue guidance for the future. Qualcomm now forecasts its revenue to fall between $8.9 billion and $9.7 billion in its current financial quarter on $1.73 to $1.93 of per-share earnings (adjusted). Analysts, in comparison, were at a $2.25 ...

Qualcomm Inc. blew out quarterly profit expectations in its most recent report Wednesday, helping to send its stock higher in the aftermarket. The company reported fiscal first-quarter net income of $2.8 billion, or $2.46 a share, up from $2.2 billion, or $1.98 a share, in the year-earlier period. On an adjusted basis, Qualcomm QCOM, +1.73% earned $2.75 a share, while analysts were modeling $2.37 a share. Revenue rose to $9.94 billion from $9.46 billion a year prior, whereas the FactSet consensus was for $9 ...

Cristiano Amon, CEO of Qualcomm, responds to a question during a keynote conversation at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, U.S. January 10, 2024.Qualcomm reported fiscal first-quarter results on Wednesday that topped analysts' estimates as sales of handset chips jumped 16% from a year earlier. The stock rose almost 3% in extended trading. Here's how the chipmaker did for the quarter ending on December 24, per LSEG consensus expectations:EPS: $2.75 per share, adjusted ...

Financial Results Announcement - Qualcomm Incorporated announced its financial results for the first quarter of fiscal 2024 through an earnings release available on the Qualcomm Investor Relations website [1] - The earnings release will be furnished to the SEC on a Form 8-K and will be available on the SEC website [1] Conference Call Details - Qualcomm will host a conference call to discuss its fiscal first quarter results on January 31, 2024, at 1:45 p m Pacific Time [2] - The conference call will be broadcast live on the Qualcomm Investor Relations website [2] - An audio replay will be available on the website and via telephone for 30 days after the live call [2] Company Overview - Qualcomm is focused on enabling a world where everyone and everything can be intelligently connected [3] - The company's technology roadmap includes advanced connectivity, high-performance, low-power compute, and on-device intelligence [3] - Qualcomm's innovations aim to enable cloud-edge convergence, transform industries, accelerate the digital economy, and revolutionize how we experience the world [3] Business Structure - Qualcomm Incorporated includes the licensing business (QTL) and the majority of the patent portfolio [4] - Qualcomm Technologies, Inc, a subsidiary, operates the engineering, R&D functions, and products and services businesses, including the QCT semiconductor business [4] - Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc and/or its subsidiaries [4]