Qualcomm Beats Q4 Estimates, Projects Strong December Quarter Revenue

Qualcomm exceeded fourth-quarter projections, with earnings and revenue both surpassing analyst expectations. The chipmaker forecasts revenue for the December quarter, exceeding analysts' midpoint target. The chipmaker has traditionally relied on the smartphone market, supplying various chips, including processors, modems, and antennas, to handset manufacturers. The company’s chips power most high-end Android devices and some lower-end phones. Its 5G modem contract with Apple extends through 2026. Shares surged 10% post-report before settling at a 4% gain.