Qualcomm stock falls 4% after earnings results
Qualcomm QCOM, +0.28% shares declined 4.5% after hours, following a 0.2% rise to close the regular session at $86.37. Shares are up 52% on the year. In comparison, the PHLX Semiconductor Index SOX, -0.82% is up 34%, while the S&P 500 index SPX, -0.75% is up 17%, and the tech-heavy Nasdaq Composite Index COMP, -0.57% is up 21%.
Revenue declined to $4.98 billion from $5.22 billion in the year-ago quarter. Wall Street expected revenue of $4.8 billion from Qualcomm, according to 17 analysts polled by FactSet. Analysts polled by FactSet have forecast an average earnings of $1.29 a share on revenue of $5.28 billion.
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