In its upcoming report, Qualcomm (QCOM) is predicted by Wall Street analysts to post quarterly earnings of $2.82 per share, reflecting an increase of 15.6% compared to the same period last year. Revenues are forecasted to be $10.64 billion, representing a year-over-year increase of 13.3%.
The current level reflects an upward revision of 1.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer 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.
Based on the collective assessment of analysts, 'Revenue- QCT- Handsets' should arrive at $6.87 billion. The estimate indicates a year-over-year change of +11.2%.
Analysts predict that the 'Revenue- QCT- Automotive' will reach $889.52 million. The estimate indicates a year-over-year change of +47.5%.
Analysts forecast 'Revenue- QTL' to reach $1.35 billion. The estimate indicates a year-over-year change of +2.3%.
According to the collective judgment of analysts, 'Revenue- QCT- IoT' should come in at $1.45 billion. The estimate suggests a change of +16.5% year over year.
Analysts expect 'Revenue- QCT' to come in at $9.21 billion. The estimate points to a change of +14.7% from the year-ago quarter.
It is projected by analysts that the 'Revenues- Non-GAAP Reconciling Items' will reach $50.83 million. The estimate points to a change of +21% from the year-ago quarter.
Analysts' assessment points toward 'Income / (loss) before taxes- QTL' reaching $987.86 million. The estimate compares to the year-ago value of $933 million.
The consensus among analysts is that 'Income / (loss) before taxes- QCT' will reach $2.86 billion. The estimate compares to the year-ago value of $2.29 billion.
View all Key Company Metrics for Qualcomm here>>>
Shares of Qualcomm have demonstrated returns of -6.8% over the past month compared to the Zacks S&P 500 composite's -4.8% change. With a Zacks Rank #2 (Buy), QCOM is expected to beat 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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