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Benzinga
Benzinga
Business
Henry Khederian

Why Qualcomm Shares Are Rising After AMD's Earnings Report

Qualcomm AMD Nasdaq Advanced Micro Devices, Inc. QCOM

QUALCOMM, Inc. (NASDAQ:QCOM) shares are trading higher by 5.6% at $187.54 Wednesday afternoon in sympathy with Advanced Micro Devices, Inc. (NASDAQ:AMD) after the company reported fourth-quarter earnings results. Qualcomm reports first-quarter earnings results after market close today.

AMD reported quarterly earnings of 92 cents per share which beat the analyst consensus estimate of 76 cents. The company reported quarterly sales of $4.83 billion which beat the analyst consensus estimate of $4.52 billion by 7%.

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