(RTTNews) - Qualcomm Inc. (QCOM) is showing strength during Thursday's pre-market trading as investors take in fourth quarter guidance.
At 8:24 am ET the stock is trading at $52.80 up $8.33 from Wednesday's close.
With the advance, the stock stands to open above recent resistance and at its highest level in over two years.
The company reported that it expects fourth quarter pro forma earnings per share to be about $0.49 - $0.51 and pro forma revenues to be about $2.5 - $2.7 billion. Analysts estimate earnings of $0.54 per share and revenues of $2.71 billion.
The company is also anticipating full-year pro forma earnings to be around $2.11 - $2.13 per share and pro forma revenues to be about $10.3 - $10.5 billion. Analysts expect earnings of $2.15 per share and revenues of $10.47 billion.
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