Qualcomm stock dips on weak fourth quarter earnings guidance
SAN DIEGO - Qualcomm Inc (NASDAQ:QCOM) reported third-quarter results that beat revenue expectations but missed on earnings, while issuing disappointing guidance for the current quarter that sent shares down more than 5%. The chipmaker posted adjusted earnings per share of $2.21 for the third quarter ended June 28, missing the analyst consensus of $2.23 by $0.02.
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SAN DIEGO - Qualcomm Inc (NASDAQ:QCOM) reported third-quarter results that beat revenue expectations but missed on earnings, while issuing disappointing guidance for the current quarter that sent shares down more than 5%. The chipmaker posted adjusted earnings per share of $2.21 for the third quarter ended June 28, missing the analyst consensus of $2.23 by $0.02. Revenue came in at $9.95 billion, beating the estimate of $9.67 billion but down 4% YoY from $10.37 billion in the prior year period. Adjusted gross margin came in at around 54%, below the consensus estimate of 55.6%.
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- What's the story?
- SAN DIEGO - Qualcomm Inc (NASDAQ:QCOM) reported third-quarter results that beat revenue expectations but missed on earnings, while issuing disappointing guidance for the current quarter that sent shares down more than 5%. The chipmaker posted adjusted earnings per share of $2.21 for the third quarter ended June 28, missing the analyst consensus of $2.23 by $0.02.
- How widely is it covered?
- 1 outlet, average source rating 6.0/10.
- When was it last updated?
- 2d ago.
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Qualcomm stock dips on weak fourth quarter earnings guidance
Sources1TypeCoverageInvesting.com · Stock Market