The S&P 500’s record close will capture mainstream media’s headlines. Look deeper than that. The fourth-quarter earnings alert winners are Qualcomm (QCOM), Qorvo (QRVO), Visa (V), and Mastercard (MA). The losers in the quarter are AMD (AMD), Chevron (CVX), and ExxonMobil (XOM).
Winners
Qualcomm (QCOM) posted strong Q1 earnings per share of $2.75 as its QCT revenue rose by 7% Y/Y to $8.4 billion. QCOM stock dipped, however, on concerns over its handset business. Fortunately, handset chip sales bottomed out. Its annual run rate is $22.5 billion.
Qorvo (QRVO) posted $2.10 in EPS. Revenues soared by 44% Y/Y to $1.074 billion, thanks to a strong Android ecosystem.
Visa posted net revenue growth of 9% Y/Y.
MasterCard reported revenue growth of 13% Y/Y. Its payment network net revenue increased by 9%.
Losers
AMD (AMD) posted revenue growing by just 10.7% to $6.2 billion. Bulls looked ahead, betting that AMD will report growth instead of flat Data Center revenue in Q1.
Chevron (CVX) reported a 16.5% revenue decline to $47.18 billion. The stock jumped last week in response to rising oil prices. Similarly, ExxonMobil (XOM) reported revenue dropping by 11.6% to $84.34 billion. It bolstered its holdings by divesting its East Texas upstream assets. This added to its $4.1 billion in asset sales and divestments in 2023.
