Company news: Qualcomm (QCOM) quarterly earnings beat analysts’ forecast

Qualcomm (QCOM) reported Q3 FY2023 earnings of $1.87 per share (versus $2.96 per share in Q3 FY2022), beating analysts’ consensus estimate of $1.81 per share.

The company’s quarterly revenues amounted to $8.500 bln (-22.2% y/y), roughly in line with analysts’ consensus estimate of $8.508 bln.

The company also issued in-line guidance for Q4 FY2023, seeing EPS of $1.80-$2.00 versus analysts’ consensus estimate of $1.92 and revenues of $8.1-$8.9 bln versus analysts’ consensus estimate of $8.74 bln.

QCOM fell to $118.25 (-8.52%) in pre-market trading.