Wall Street analysts expect Qualcomm (QCOM) to post quarterly earnings of $2.87 per share in its upcoming report, which indicates a year-over-year increase of 6.7%. Revenues are expected to be $10.77 billion, up 5.2% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Qualcomm metrics that are commonly tracked and forecasted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues- QTL' of $1.40 billion. The estimate points to a change of -7.9% from the year-ago quarter.
Analysts forecast 'Revenues- QCT- Automotive' to reach $1.02 billion. The estimate indicates a year-over-year change of +13.8%.
According to the collective judgment of analysts, 'Revenues- QCT- IoT (internet of things)' should come in at $1.70 billion. The estimate indicates a year-over-year change of +0.8%.
Analysts expect 'Revenues- QCT- Handsets' to come in at $6.56 billion. The estimate points to a change of +7.6% from the year-ago quarter.
The consensus among analysts is that 'Revenues- QCT' will reach $9.28 billion. The estimate indicates a year-over-year change of +6.9%.
Analysts predict that the 'Revenues- Licensing' will reach $1.50 billion. The estimate points to a change of -12.4% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Equipment and services' will reach $9.16 billion. The estimate points to a change of +7.3% from the year-ago quarter.
Analysts' assessment points toward 'Income / (loss) before taxes- QTL' reaching $975.60 million. Compared to the present estimate, the company reported $1.12 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Income / (loss) before taxes- QCT' should arrive at $2.66 billion. Compared to the present estimate, the company reported $2.47 billion in the same quarter last year.
View all Key Company Metrics for Qualcomm here>>>
Shares of Qualcomm have experienced a change of +5% in the past month compared to the +2.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), QCOM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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QUALCOMM Incorporated (QCOM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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