By Yasin Ebrahim
Investing.com - Qualcomm (NASDAQ:QCOM) reported Wednesday fiscal fourth guidance that topped estimates following better-than-expected third quarter results as demand was boosted by the accelerating pace of digital transformation.
Qualcomm announced earnings per share of $1.92 on revenue of $8.06 billion. Analysts polled by Investing.com anticipated EPS of $1.68 on revenue of $7.53 billion.
The company, which generates the a significant portion of its overall revenues from licensing royalties, reported revenue growth in both its semiconductor business and licensing businesses.
First-quarter QCT (Qualcomm CDMA Technologies) semiconductor business revenue rose 70% to $6.47 billion as chip sold for use in mobile handsets climbed 57% to $3.86 billion.
QTL (Qualcomm Technology Licensing) licensing business revenue was up 43% to $1.49 billion.
Looking ahead, the company guided fourth-quarter adjusted EPS of $2.15 to $2.35 on revenue in the range of $8.4 billion to $9.2 billion. That compared with consensus for EPS of $2.03 on revenue $8.46 billion.
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