5 Stocks Making Big Moves on Financial Results

In this article, we discuss the 5 stocks making big moves on financial results. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Making Big Moves on Financial Results.

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 70

Shares of QUALCOMM Incorporated (NASDAQ:QCOM) slightly moved down in the after-hours trading session on Wednesday, February 2, 2022, despite delivering solid financial results for its fiscal first quarter.

QUALCOMM Incorporated (NASDAQ:QCOM) reported adjusted earnings of $3.23 per share, up from $2.17 per share in the year-ago quarter. Total revenue came in at $10.71 billion, up 30 percent from the year-ago period. The results crushed analysts’ average estimate of $3.01 per share for earnings and $10.44 billion for revenue.

Looking forward, QUALCOMM Incorporated (NASDAQ:QCOM) expects adjusted earnings in the range of $2.80 – $3 per share and revenue between $10.2 – $11 billion for its fiscal second quarter. In comparison, analysts expect earnings of $2.51 per share on sales of $9.66 billion for the same period.

Speaking on the results, CEO of QUALCOMM Incorporated (NASDAQ:QCOM), Cristiano Amon, said in a statement:

“Our record quarterly results reflect the strong demand for our products and technologies, with QCT revenues exceeding those of any fabless semiconductor company. We are at the beginning of one of the largest opportunities in our history, with our addressable market expanding by more than seven times to approximately $700 billion in the next decade.”