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| As of Friday, November 13th: |
As of October 1st, the earnings growth rate was at -24.7%.Of the 463 S&P 500 companies who have reported Q3, 80% beat estimates, 6% were in-line, and 14% were below estimates. The blended earnings growth rate for the S&P 500 for Q3 2009 is currently at -13.8%. (Data provided by Thomson Reuters)
LATEST EARNINGS RESULTS
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Qualcomm said its fiscal first-quarter profits plunged 56 percent, falling short of analyst expectations as investment losses took a toll on its bottom line.
The company said Wednesday it earned $341 million, or 20 cents per share, during the three-month period ended Dec. 28. That compares with a profit of $767 million, or 46 cents per share, during the same period of 2007.
The latest period includes per-share charges of 5 cents for San Diego-based Qualcomm's strategic investment unit and 6 cents for share based compensation.
Excluding those charges, Qualcomm earned 31 cents a share, well below an estimate of 47 cents a share among analysts polled by Thomson Reuters.
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Revenue rose 3.2 percent to $2.52 billion from $2.44 billion, above Wall Street's projection of $2.42 billion.
Analysts who follow Qualcomm expected the firm to post a profit of 47 cents a share, according to Thomson Reuters.
Qualcomm shares [QCOM
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] tumbled about 6 percent in extended trading. The stock finished the regular Nasdaq session Wednesday at $36.82, an increase of $3.34 percent.
- AP contributed to this report.
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U.S. department store operator JC Penney forecast earnings for the holiday quarter that could surpass Wall Street expectations, and its shares rose about 8 percent on Friday.
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