Qualcomm soars after sales and earnings beat expectations

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Qualcomm up more than 12% after hours after sales and earnings beat expectations.

's iPhone 12. Qualcomm CEO Steve Mollenkopf said on a call with analysts that its fourth-quarter results included a "partial quarter impact" from a large U.S. handset maker, likely Apple.

Qualcomm said on Wednesday that it expects about 200 million smartphones with 5G to be shipped in 2020, and about 500 million 5G smartphones to be shipped in 2021. Qualcomm does not make smartphones but sells handset makers critical processing and modem chips. It's expecting "high-single-digit growth" in smartphone shipments, including 5G, 4G, and 3G phones, next year.showing benefits in our licensing and product businesses," Mollenkopf said in a statement.

 

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