Qualcomm Q3: Revenue Beats, EPS Misses, Handset Sales Plunge 20%
QCOM sits 21% above its 52-week low of $121.99.
Summary
Qualcomm's Q3 revenue of $9.9B beat the $9.67B consensus, but adjusted EPS of $2.21 missed by two cents. Handset chip sales dropped 20% to $5.1B, while automotive surged 61% to $1.59B. CEO Amon highlighted 'solid execution' and guided Q4 revenue to $9.70B-$10.50B with EPS of $2.05-$2.25. On the earnings call, Amon stated that two near-term custom silicon wins will generate revenue in the December quarter. The Q4 revenue range implies potential upside, but the EPS midpoint is below consensus, leaving traders to weigh diversification progress against handset weakness.
At the time of this announcement, QCOM was trading at $147.12 on NASDAQ in the Technology sector, with a market capitalization of approximately $164.1B. The 52-week trading range was $121.99 to $259.92. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Benzinga.