Earnings Recap – November 3
Qualcomm stock jumped in extended trading after the company reported a Q4 earnings beat. The company reported adjusted earnings of $2.55 per share vs. $2.26 as expected by analysts, up 76% year over year. Revenue was $9.3 billion vs. $8.8 billion as expected by analysts, up 43% year over year. In addition, Qualcomm said it bought back $1.54 billion of its own stock and paid $768 million in dividends during the quarter.
CVS Health Group
CVS Health reported upbeat Q3 earnings on Wednesday. The company reported adjusted earnings of $1.97 adjusted per share vs. $1.78 expected by analysts. Revenue was $73.79 billion vs. $70.49 billion as expected. Consumers visited CVS stores for Covid-19 testing and vaccines, which boosted revenue. During the quarter, the company said it administered 8.5 million tests and 11.6 million shots.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.