Qualcomm Stock Pops on Better-Than-Expected Earnings, $15B Buyback

Qualcomm (QCOM) posted fiscal fourth-quarter earnings that exceeded analysts' expectations and announced a $15 billion stock buyback, driving shares higher after the closing bell Wednesday. The chipmaker reported fourth-quarter revenue of $10.24 billion, up 19% year-over-year and above the analyst consensus from Visible Alpha. Net income was $2.92 billion or $2.59 per share, compared to $1.49 billion or $1.32 per share a year ago and beating Wall Street projections. The revenue gains came as handset semicon ...