Qualcomm Inc reports results for the quarter ended June 30 - Earnings Summary

• Qualcomm Inc QCOM.OQ reported quarterly adjusted earnings of $2.77​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $2.33. The mean expectation of twenty seven analysts for the quarter was for earnings of $2.71 per share. Wall Street expected results to range from $2.65 to $2.80 per share.

• Revenue rose 10.4% to $10.37 billion from a year ago; analysts expected $10.35 billion.

• Qualcomm Inc's reported EPS for the quarter was $2.43​.

• The company reported quarterly net income of $2.67 billion.

• Qualcomm Inc shares had risen by 1.8% this quarter and gained 5.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.1% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy," 19 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"

• Wall Street's median 12-month price target for Qualcomm Inc is $176.65, about 8.2% above its last closing price of $162.08

This summary was machine generated from LSEG data July 30 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)