Qualcomm Q3 Earnings Highlights: Revenue Beat, EPS Beat, 'Strong Execution Of Our Growth And Diversification Strategy'
Portfolio Pulse from Chris Katje
Qualcomm Inc (NASDAQ:QCOM) reported strong Q3 earnings with revenue and EPS beating estimates. Revenue was $9.4 billion, up 11% YoY, and EPS was $2.33. The company saw significant growth in its QCT segment, particularly in automotive. Qualcomm provided positive Q4 guidance and announced upcoming product launches.
July 31, 2024 | 8:04 pm
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Qualcomm reported strong Q3 earnings with revenue and EPS beating estimates. Revenue was $9.4 billion, up 11% YoY, and EPS was $2.33. The company saw significant growth in its QCT segment, particularly in automotive. Qualcomm provided positive Q4 guidance and announced upcoming product launches.
Qualcomm's strong Q3 earnings report, with both revenue and EPS beating estimates, is likely to positively impact the stock price in the short term. The significant growth in the QCT segment, especially in automotive, and the positive Q4 guidance further support a bullish outlook. Additionally, the announcement of new product launches adds to the positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100