Analysts on Wall Street project that Qualcomm (QCOM) will announce quarterly earnings of $3.37 per share in its forthcoming report, representing a decline of 1.2% year over year. Revenues are projected to reach $12.23 billion, increasing 4.8% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 2.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during 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 investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Qualcomm metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Revenues- QTL' will likely reach $1.50 billion. The estimate indicates a year-over-year change of -2.3%.
The average prediction of analysts places 'Revenues- QCT- Automotive' at $1.09 billion. The estimate suggests a change of +13.9% year over year.
It is projected by analysts that the 'Revenues- QCT- IoT (internet of things)' will reach $1.76 billion. The estimate points to a change of +13.4% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenues- QCT- Handsets' of $7.79 billion. The estimate indicates a year-over-year change of +2.9%.
According to the collective judgment of analysts, 'Revenues- QCT' should come in at $10.64 billion. The estimate indicates a year-over-year change of +5.5%.
Analysts predict that the 'Revenues- Licensing' will reach $1.62 billion. The estimate suggests a change of -6.4% year over year.
Analysts expect 'Revenues- Equipment and services' to come in at $10.55 billion. The estimate indicates a change of +6.1% from the prior-year quarter.
Based on the collective assessment of analysts, 'Income / (loss) before taxes- QTL' should arrive at $1.12 billion. Compared to the current estimate, the company reported $1.16 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Income / (loss) before taxes- QCT' reaching $3.25 billion. The estimate is in contrast to the year-ago figure of $3.25 billion.
View all Key Company Metrics for Qualcomm here>>>
Over the past month, Qualcomm shares have recorded returns of -11% versus the Zacks S&P 500 composite's +0.9% change. Based on its Zacks Rank #4 (Sell), QCOM will likely underperform the overall market in the upcoming period. 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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