Qualcomm earnings blow past estimates, sending stock higher

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 ...