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Shares of semiconductor maker and intellectual property powerhouse Qualcomm (NASDAQ: QCOM) are surging in Thursday morning trading, up a solid 14% as of 10:20 a.m. EST, after the company reported a big earnings beat last night.
Heading into earnings day, analysts had forecast that Qualcomm would earn $1.17 per share, pro forma , on $5.9 billion in adjusted sales. As it turned out, Qualcomm earned $1.45 on sales of $6.5 billion.