Qualcomm Delivers Earnings Beat And Solid Outlook As Core Chip Sales Hold Firm

Qualcomm beat third-quarter earnings estimates and issued a strong forecast, but its shares fell in after-hours trading, according to CNBC. The company reported adjusted earnings of $2.77 per share on $10.37 billion in revenue, slightly exceeding analyst expectations. For the current quarter, the company forecasted $2.85 in adjusted earnings per share and $10.7 billion in revenue, both above LSEG estimates. Qualcomm’s core business is selling Snapdragon chips for high-end smartphones, including processors for Samsung and modems for Apple. Its handset chip division generated $6.33 billion in revenue, slightly below the $6.44 billion expected by Wall Street.