Quantcast

Qualcomm Stock Belted after Profit Report

Investors are shooting down stock of telecom superstar Qualcomm in after-hours trading (1.29 p.m.) The stock is down 6.76%% to $39.75. During regular trading, it had been down 1.52% to $42.63. After the close, Qualcomm reported second quarter earnings of 46 cents a share, up from a loss of 18 cents a share in the same quarter a year ago. Revenues rose to $2.7 billion from $2.45 billion a year ago. However, Wall Street had expected earnings per share of 57 cents. The selloff reflects that disappointment.

Comments

Log in to comment

Skip Ad
Close

Let’s Be Friends

Subscribe for local event alerts, concerts tickets, promotions and more from the San Diego Reader