Qualcomm reported fiscal third-quarter earnings that beat Wall Street expectations. Qualcomm said it expected $2.85 per share at the midpoint of adjusted earnings on $10.7 billion in revenue at the midpoint in the fourth quarter. Its handset chip business reported $6.33 billion in revenue during the quarter, just shy of expectations of $6.44 billion. Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty Images
Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations and provided a stronger-than-expected guide for the current quarter. Qualcomm shares slid in extended trading.
Here’s how the chipmaker did for the quarter ending June 29 compared to LSEG consensus expectations:
Earnings per share: $2.77 adjusted versus $2.71 expected Revenue: $10.37 billion versus $10.35 billion expected
In the current quarter, Qualcomm said it expected $2.85 per share at the midpoint of adjusted earnings on $10.7 billion in revenue at the midpoint. Analysts polled by LSEG were expecting $2.83