Qualcomm (QCOM) reported fourth quarter earnings after the bell Wednesday, topping expectations on the top and bottom lines and providing a better-than-anticipated Q1 outlook. For Q4, Qualcomm reported adjusted earnings per share (EPS) of $2.17 on revenue of $10.32 billion. Analysts were projecting EPS of $2.16 and revenue of $10.12 billion. The company saw EPS of $3.00 and revenue of $11.27 billion in the same quarter last year. Qualcomm also offered Q1 revenue guidance of $10.4 billion to $11.2 billion, with the midpoint ahead of Wall Street's $10.6 billion outlook. Qualcomm's QCT segment, which includes handset and automotive sales, declined 8% year over year, but topped Wall Street's expectations on revenue of $9 billion.
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