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Benzinga
Benzinga
Business
Norman Chu

What's Going On With Qualcomm Stock After Hours Today

Qualcomm

Shares of Qualcomm (NASDAQ:QCOM) were trading sharply lower after an initial surge following the release of its Q1 earnings report and on-track forward guidance for Q2.

The company reported a beat on both EPS and sales while also announcing strong guidance in preparation for the second quarter. Management highlights their second consecutive quarter of record results coupled with greater than 60% year-over-year earnings before tax (EBT) growth. In particular, the earnings results showcased a 41% year-over-year growth in Qualcomm CDMA Technologies (QCT) revenues.

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