Qualcomm Beats Q4 Estimates But Profits Fall; Upbeat Outlook Lifts Stock

Qualcomm beat earnings and revenue estimates for fiscal Q4 but profits and sales declined sharply on a year-over-year basis.

Qualcomm provided an upbeat outlook for the current quarter, exceeding analyst expectations.

QCOM stock rose in after-hours trading following the better-than-expected results.

Qualcomm's CEO touted the company's product roadmap and execution.

Separately, Silicon Labs shares sank as the chipmaker narrowly beat Q3 views but sharply reduced its Q4 outlook.