Qualcomm Inc. (QCOM) reported its second quarter earnings results, beating analyst estimates on the top and bottom lines. The semiconductor giant's second...
) reported its second quarter earnings results , beating analyst estimates on the top and bottom lines. The semiconductor giant's second quarter adjusted earnings were $2.44 per share, topping Street estimates of $2.32. Adjusted revenue of $9.39 billion was just slightly better than the $9.32 billion estimate.
While the quarter focused primarily on Qualcomm's handset sales, Moorhead highlights the company's automotive segment as"the biggest surprise" in the results. He notes that this sector witnessed a remarkable surge in its backlog, increasing from $30 billion to a staggering $45 billion over the course of 18 months, describing the feat as"pretty big.
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