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Qualcomm (QCOM) forecasts Q3 2024 revenue and EPS above analyst expectations

The midpoint of Qualcomm's revenue and EPS forecasts for Q3 come in above what analysts were expecting.

May 1, 2024 2:55 PM

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Qualcomm’s (QCOM) latest earnings report is out and chronicles the tech company’s financial performance over the past few months. It also provides a look forward as Qualcomm has provided guidance for the upcoming quarter. Qualcomm’s forecast for Q3 is slightly above analysts’ expectations.

Qualcomm shared its Q3 2024 forecast in its latest earnings report. For revenue, Qualcomm is projecting somewhere between $8.8-9.6 billion. The $9.2 billion midpoint would put the company narrowly above analyst’s expectation of $9.1 billion. Qualcomm is forecasting EPS to be in the range of $2.15-2.35. The midpoint of that range would be $2.25, beating the analyst expectation of $2.17.

Qualcomm (QCOM) stock saw a decent bump in after-hours trading as a result of its reported revenue and EPS beat for the latest quarter. It peaked at $172.45 after ending the day at $164.15. A higher-than-expected forecast for the upcoming quarter likely contributed to the stock’s growth.

With Qualcomm’s Q3 2024 forecast out there, we’ll be coming back in a few months to see how the actual numbers stack up to projections. Stick with Shacknews for all your finance news as it relates to tech and games.

Donovan Erskine

News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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