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Qualcomm reports mixed results in Q3

Investing.com -- Qualcomm on Wednesday reported underwhelming guidance for the current quarter after delivering mixed Q3 results as revenue fell short of estimates amid a softer smartphone demand.     

Qualcomm Incorporated (NASDAQ:QCOM) shares fell more than 3% in after-hours trade following the report.

The chipmaker reported adjusted EPS of $1.87 on revenue of $8.44 billion. Analysts polled by Investing.com anticipated EPS of $1.81 on revenue of $8.51B.

Fourth-quarter Qualcomm CDMA Technologies, or QCT, semiconductor business revenue fell 24% to $7.17B. 

Qualcomm Technology Licensing, or QTL, licensing business revenue fell 19% to $1.23B.

For the fiscal fourth quarter, the company guided EPS in the range of $1.80 to $2.00 on revenue of between $8.1B to $8.9B. That compared with Wall Street estimates for EPS of $1.94 on revenue of $8.77B.

"The midpoint of our fourth quarter fiscal 2023 guidance includes the continued impact of the macroeconomic headwinds, weaker global handset units and channel inventory drawdown," the company said. 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.