Qualcomm Q3 Earnings Highlights: EPS Beat, Revenue Miss, Auto Segment Grows Again, Q4 Guidance And More
Portfolio Pulse from Chris Katje
Qualcomm Inc (NASDAQ:QCOM) reported Q3 revenue of $8.44 billion, down 23% YoY, missing the Street estimate of $8.51 billion. However, EPS of $1.87 beat the estimate of $1.81. QCT segment revenue was $7.17 billion, down 24% YoY, and QTL segment revenue was $1.23 billion, down 19% YoY. The QCT Automotive segment revenue increased 13% YoY. For Q4, Qualcomm expects revenue between $8.1 billion and $8.9 billion, and EPS between $1.80 and $2.00.
August 04, 2023 | 12:09 pm
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Qualcomm's Q3 revenue missed estimates but EPS beat expectations. The company's QCT Automotive segment continues to grow, marking 11 straight quarters of YoY double-digit percentage growth.
Qualcomm's Q3 revenue missed estimates, which could negatively impact investor sentiment and the stock price. However, the EPS beat and the consistent growth in the QCT Automotive segment could offset some of this negative impact.
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