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Compared to Estimates, Qualcomm (QCOM) Q3 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Qualcomm (QCOM - Free Report) reported revenue of $8.45 billion, down 22.7% over the same period last year. EPS came in at $1.87, compared to $2.96 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.51 billion, representing a surprise of -0.72%. The company delivered an EPS surprise of +3.31%, with the consensus EPS estimate being $1.81.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Qualcomm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- QCT: $7.17 billion versus the six-analyst average estimate of $7.25 billion. The reported number represents a year-over-year change of -23.5%.
Revenue- QTL: $1.23 billion versus $1.24 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -19% change.
QCT revenues- IoT: $1.49 billion compared to the $1.45 billion average estimate based on five analysts. The reported number represents a change of -19% year over year.
QCT revenues- Automotive: $434 million compared to the $443.96 million average estimate based on five analysts. The reported number represents a change of +24% year over year.
QCT revenues- Handsets: $5.26 billion versus the five-analyst average estimate of $5.36 billion. The reported number represents a year-over-year change of -14.5%.
Revenues- Non-GAAP Reconciling Items: $38 million compared to the $35.29 million average estimate based on five analysts. The reported number represents a change of +22.6% year over year.
Revenues- Equipment and services: $7.11 billion versus the two-analyst average estimate of $7.22 billion. The reported number represents a year-over-year change of -23.3%.
Revenues- Licensing: $1.34 billion versus the two-analyst average estimate of $1.30 billion. The reported number represents a year-over-year change of -19.6%.
Income / (loss) before taxes- QTL: $811 million compared to the $800.18 million average estimate based on three analysts.
Income / (loss) before taxes- QCT: $1.74 billion versus $1.71 billion estimated by three analysts on average.
Shares of Qualcomm have returned +10% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Qualcomm (QCOM) Q3 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Qualcomm (QCOM - Free Report) reported revenue of $8.45 billion, down 22.7% over the same period last year. EPS came in at $1.87, compared to $2.96 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.51 billion, representing a surprise of -0.72%. The company delivered an EPS surprise of +3.31%, with the consensus EPS estimate being $1.81.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Qualcomm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- QCT: $7.17 billion versus the six-analyst average estimate of $7.25 billion. The reported number represents a year-over-year change of -23.5%.
- Revenue- QTL: $1.23 billion versus $1.24 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -19% change.
- QCT revenues- IoT: $1.49 billion compared to the $1.45 billion average estimate based on five analysts. The reported number represents a change of -19% year over year.
- QCT revenues- Automotive: $434 million compared to the $443.96 million average estimate based on five analysts. The reported number represents a change of +24% year over year.
- QCT revenues- Handsets: $5.26 billion versus the five-analyst average estimate of $5.36 billion. The reported number represents a year-over-year change of -14.5%.
- Revenues- Non-GAAP Reconciling Items: $38 million compared to the $35.29 million average estimate based on five analysts. The reported number represents a change of +22.6% year over year.
- Revenues- Equipment and services: $7.11 billion versus the two-analyst average estimate of $7.22 billion. The reported number represents a year-over-year change of -23.3%.
- Revenues- Licensing: $1.34 billion versus the two-analyst average estimate of $1.30 billion. The reported number represents a year-over-year change of -19.6%.
- Income / (loss) before taxes- QTL: $811 million compared to the $800.18 million average estimate based on three analysts.
- Income / (loss) before taxes- QCT: $1.74 billion versus $1.71 billion estimated by three analysts on average.
View all Key Company Metrics for Qualcomm here>>>Shares of Qualcomm have returned +10% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.