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.
Qualcomm earnings increase in Q3 ↗️
