Qualcomm (QCOM) enjoyed a significant sales and profit jump during the company's fourth quarter. Qualcomm released its results after market close on Wednesday, and the Apple partner sailed past Wall Street's estimates.
The chipmaker brought in revenue of $4.12 billion, up from $2.95 billion in the same period last year. Analysts surveyed by Thomson Reuters were looking for revenue of $4 billion.
Robust guidance helped push Qualcomm's shares up in extended trading on Wednesday. The company's stock ended the week up 39 cents, or 0.7%, at $56.50.
Rumors of a possible Yahoo! (YHOO) sale continued to swirl this week, with Reuters reporting on Friday that the Web giant has signed confidentiality agreements with several parties interested in buying all or part of the company. Activist investor Daniel Loeb also cranked up the Yahoo! pressure on Friday, attempting to oust former CEO Jerry Yang from the company's board. Yahoo shares ended the week down 24 cents, or 1.55%, at $15.24.
Tech earnings rumble on next week, with managed hosting specialist Rackspace (RAX) reporting its third-quarter results after market close on Monday. Networking giant Cisco (CSCO), however, will be the big headline-grabber, posting its first-quarter numbers on Wednesday. -- Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org.
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