Qualcomm, Inc. (QCOM) Misses EPS Estimates, Shares Down

Qualcomm Logo
QUALCOMM, Inc. (NASDAQ:QCOM) released its earnings numbers for the three months through September this afternoon after the market closed on Wall Street. The company showed earnings per share of $1.05 for the three month period. Analysts following the company were expecting it to report around $1.08 per share. After the numbers emerged shares in the company dropped by more than 4% in after-market trading.
Qualcomm Logo

Revenue for the third quarter of the year came in at $6.48 billion. Analysts were expecting the company to show revenue totaling $6.35 billion by consensus. QUALCOMM, Inc. (NASDAQ:QCOM) shares had traded up on Wednesday in anticipation of this earnings release. The disappointing numbers after the market closed erased those gains.

Qualcomm earnings

QUALCOMM, Inc. (NASDAQ:QCOM) earnings were also marred by soft guidance for the current quarter. Management said that they were looking for revenue of $6.3 billion to $6.9 billion from the fourth quarter. The company said that earnings per share in the period should come to between $1.10 and $1.20.

Analysts studying the company were looking for revenue of $6.99 billion for the December quarter and earnings per share of $1.29. The lower-than-expected guidance for the third quarter probably had the most impact on QUALCOMM, Inc. (NASDAQ:QCOM) shares this afternoon in post-market trading. The company is facing a competitive Christmas period, and investors are not all that pleased.

Top value fund managers are ready for the small cap bear market to be done

InvestorsDuring the bull market, small caps haven't been performing well, but some believe that could be about to change. Breach Inlet Founder and Portfolio Manager Chris Colvin and Gradient Investments President Michael Binger both expect small caps to take off. Q1 2020 hedge fund letters, conferences and more However, not everyone is convinced. BTIG strategist Read More