Qualcomm rung up record revenue and solid earnings for its fiscal second quarter — led by share gains at Samsung and momentum in its diversification strategy to drive mobile technology into new industries.
The better-than-expected results reported Wednesday come as Qualcomm’s shares have fallen around 25 percent so far this year. Investors have worried over Android smartphone weakness in China amid tough government measures to contain COVID-19 outbreaks.
But San Diego’s largest publicly traded company shrugged off those concerns with quarterly results that beat Wall Street’s expectations. Its shares jumped 6 percent in extended trading on Wednesday.
