Qualcomm lager rises according to earnings struck

Qualcomm Inc.

QCOM, -0.66%

shares rose in the expanded session Wednesday after chipmaker peaked Wall Street estimates for the quarter. Qualcomm shares rose 2.4% after hours, after a decline of 0.7% to close the usual session of $ 63.21. The company reported a tax fourth quarter loss of $ 493 million, or 35 cents per share, compared with $ 168 million, or 11 cents a share, years ago. Adjusted earnings were 90 cents per share. Revenues decreased to $ 5.8 billion from $ 5.91 billion in the quarter. Analysts surveyed by FactSet had expected earnings of 83 cents a share of revenue of 5.53 billion dollars. Qualcomm for the first quarter expects an adjusted earnings of $ 1[ads1].05 to $ 1.15 per share on revenue of $ 4.5 billion to $ 5.3 billion, while analysts had expected 94 cents on revenues of $ 5.59 billion.

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