Though Apple has been in the doldrums lately, one of its suppliers is doing exceptionally well, as Qualcomm ( QCOM) reported better-than-expected earnings. The San Diego-based company reported earnings of 89 cents a share on $4.87 billion in revenue for its fiscal fourth quarter, up 18% year-over-year and 5% sequentially. Analysts polled by Thomson Reuters expected the chip maker to earn 82 cents per share on $4.66 billion in revenue. Qualcomm also said it expects a strong first quarter, as smartphone demand, particularly at the high-end, continues to be strong. The company anticipates revenue of between $5.6 billion and $6.1 billion, with non-GAAP earnings ranging from $1.08 to $1.16 per share. Analysts surveyed by Thomson Reuters are currently looking for revenue of $5.295 billion and earnings of $1 a share. Shares were rising 4.97% to $61.01 in mid-day trading.
Concur Technologies ( CNQR) fell sharply, losing 4.96% to $61.74, after the company reported mixed quarterly results. The hosting software company earned 40 cents per share on $118 million in sales during its fiscal fourth quarter. Wall Street analysts were looking for 25 cents per share on revenue of $119 million. Concur gave mixed first-quarter guidance. It sees earnings per share of 30 cents on revenue of about $121.7 million. Wall Street analysts are looking for 25 cents per share on $125.6 million. Shares have rebounded from earlier in the session though when they traded as low as $57.70. Interested in more on Concur Technologies? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull