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Qualcomm Q3 Earnings Preview: AI, Auto, Smartphones Top Items To Watch, Analyst Says 'Share Price Pull-Back Offers Entry Point'
Artificial intelligence and automotive revenue, as well as growth initiatives, are among the items investors and analysts will be watching when semiconductor company Qualcomm Inc (NASDAQ:QCOM) reports third-quarter financial results on Wednesday, July 31 after market close.
Earnings Estimates: Analysts expect Qualcomm to report third-quarter revenue of $9.22 billion, according to data from Benzinga Pro.
The company reported revenue of $8.44 billion in last year's third quarter. Qualcomm has beaten analysts' revenue estimates in three straight quarters and eight of the past 10 quarters.
Analysts expect Qualcomm to report third-quarter earnings per share of $2.25, compared to $1.87 reported in last year's third quarter.
The company has beaten analysts' estimates for earnings per share in four straight quarters and eight of the last 10 quarters. Two of the past 10 quarters saw earnings estimates from analysts met, meaning Qualcomm hasn't missed EPS estimates from analysts in any of the past 10 quarters.
Qualcomm is guiding for third-quarter revenue to come in a range of $8.8 billion to $9.6 billion. Guidance for third-quarter earnings per share is a range of $2.15 to $2.35.
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What Analysts Are Saying: With Qualcomm shares ...