Published , by Donovan Erskine
Published , by Donovan Erskine
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.