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, 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.
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