Qualcomm Sees Q2 2024 Adj. EPS $2.20-$2.40 vs $2.25 Est., Revenues $8.9B-$9.7B vs $9.303B Est.
Portfolio Pulse from Benzinga Newsdesk
Qualcomm has provided guidance for its Q2 2024 adjusted earnings per share (EPS) to be in the range of $2.20-$2.40, compared to the estimated $2.25. The company also forecasts revenues to be between $8.9 billion and $9.7 billion, versus the estimated $9.303 billion.
January 31, 2024 | 9:00 pm
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Qualcomm's projected Q2 2024 adjusted EPS range is slightly below the consensus estimate, while its revenue forecast brackets the expected figure. This mixed guidance could lead to cautious investor sentiment in the short term.
Qualcomm's guidance for Q2 2024 shows a potential for earnings to be slightly below or above the analyst estimate, which could result in a neutral to slightly negative investor reaction. However, the revenue forecast encompasses the analyst estimate, which may mitigate any negative impact from the EPS guidance. The mixed nature of this guidance suggests a cautious outlook, but not a definitive negative trend, hence the neutral score.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100