Qualcomm reports 'milestone quarter' as 5G proliferates

Apple modem supplier Qualcomm rode the 5G wave to a Wall Street beat for its fourth fiscal quarter of 2020, and expects momentum to build heading into the December period. Qualcomm X55 modem. Qualcomm reported revenue of $6.5 billion for the quarter ending in September, with net income up 76% year-over-year. That figure easily beat analyst consensus of $5.93 billion, reports CNBC.