Qualcomm rose nearly 5% in premarket trading

Qualcomm rose nearly 5% in premarket trading, and Q2 net profit increased by 276% year-on-year to US$1.762 billion.

Qualcomm fiscal Q2 earnings beat, Q3 revenue guidance comes in slightly soft

Qualcomm(NASDAQ:QCOM)fiscal Q2 revenueof $7.94B increases 52% Y/Y, beating the consensus of $7.62B.

Non-GAAP EPS for the quarter ended March 28, 2021 rose 116% Y/Y to $1.90, easily exceeding the consensus estimate of $1.67.

QCT revenue of $6.28B, up 53% Y/Y, vs. consensus of $6.2B; handsets revenue of $4.07B, up 53%; RF front-end revenue of $903M, up 39%; automotive revenue of $240M, up 40%; and IoT revenue of $1.07B, up 71%.

QTL sales of $1.61B, up 51% Y/Y, vs. consensus of $1.35B.

Sees Q3 revenueof $7.1B-$7.9B vs. consensus of $7.13B and non-GAAP EPS of $1.55-$1.75, higher than the $1.52 consensus estimate.