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Thndr Claps » U.S. Claps » Nasdaq 🔔 » Qualcomm earnings increase in Q3 ↗️

Qualcomm earnings increase in Q3 ↗️

by Omar El Shorafa
July 28, 2022

The Clap
Qualcomm’s Q3 earnings topped Wall Street’s expectations but guidance for the current quarter was short of the company’s expectations.

The Deets
The company’s handset business grew 59% on an annual basis during the quarter to $6.15 billion.

Qualcomm said it expected between $3 and $3.30 in EPS during the fourth quarter and between $11 billion and $11.8 billion in sales, lower than Wall Street’s Q4 earnings expectations of $3.23 per share and $11.87 billion in sales.

Why is this important?
Qualcomm said that the company’s results were strong despite being in a challenging macroeconomic environment. Qualcomm sales rose 37% during the quarter.

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