Qualcom reports upbeat guidance as Q4 results beat; announces $15B stock buyback

Investing.com -- Qualcomm (NASDAQ:QCOM ) reported better-than-expected guidance following fiscal fourth-quarter results that topped Wall Street estimates and chipmaker announced a new $15 billion stock buyback program as smartphone chip demand improved.

Qualcomm jumped more than 7% in recent aftermarket hours following the report.

Qualcomm reported adjusted earnings per diluted share of $2.69 on revenue of $10.24B, beating Wall Street estimates for adjusted EPS of $2.56 on revenue of $9.9B. 

For fiscal Q1, the company forecast adjusted EPS of $2.85 to $3.05 on revenue of $10.5B to $11.3B, or $10.9B at the midpoint, compared with estimates for $2.87 and  $10.61B, respectively.   

Source: Investing.com