Qualcomm, Baidu soar on upbeat quarterly results

Thursday, 07. November 2019 16:01

Shares of Baidu and Qualcomm soared on Thursday helping the Nasdaq 100 reach an all-time high after the two companies posted better-than-expected quarterly results a day earlier.

Baidu posted a diluted loss per share of $2.57 in the third quarter but still topped market expectations, while Qualcomm's revenue jumped to $24.3 billion and its earnings per share surged to $0.42 in the three-month period.

Baidu's stock skyrocketed 9.72% to $117.80 at 9:58 am ET and Qualcomm's shares rallied 7.88% to $91.4107 at the same time.

Related Links: Qualcomm Inc.Baidu Inc.
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Breaking the News / NP