06:00 AM EDT, 05/01/2024 (MT Newswires) -- Qualcomm ( QCOM ) historically favors narrowing its downside performance between its earnings-driven after-hours declines and the following day's regular session. On the upside, it consistently adds to gains the following day.

QCOM has recorded an after-hours gain in 37 of the quarters we've tracked, widening its direction (adding to its after-hours gains in next-day regular session trade), in 20 quarters (54% of the time), and reversing direction in 15 quarters, or 46% of the time. The stock has recorded an after-hours decline in 43 quarters, reversing direction in follow-on regular session trade in 23 quarters (53% of the time).

QCOM is due with its Q2 results in the evening session today, and analysts are expecting the company to report a profit of $2.32 per share on revenue of $9.4 billion, according to Capital IQ.

Price: 165.47, Change: -0.38, Percent Change: -0.23