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Jun 27, 2021
Qualcomm Q3 2021 Earnings Report
Qualcomm's financial performance exceeded expectations, driven by revenue diversification and operating leverage.
Key Takeaways
Qualcomm announced its Q3 fiscal year 2021 results, reporting GAAP revenues of $8.1 billion and GAAP EPS of $1.77. The results exceeded the high end of the guidance range, highlighting continued revenue diversification and operating leverage.
Revenues and EPS exceeded the high end of the guidance range.
The company is on pace to deliver $10 billion of annual revenues across RF front-end, IoT, and Automotive.
Solutions are fueling the connected intelligent edge, enabling the cloud economy.
Unprecedented demand for Qualcomm's technologies is being seen as the pace of digital transformation accelerates.
Revenue by Segment
Forward Guidance
Qualcomm provided guidance for Q4 FY21, with revenue estimated between $8.4B - $9.2B and non-GAAP diluted EPS between $2.15 - $2.35.
Positive Outlook
- Revenue guidance between $8.4B and $9.2B.
- QCT revenues are expected to be between $7.0B and $7.5B.
- QTL revenues are projected to be between $1.45B and $1.65B.
- GAAP diluted EPS is estimated between $1.78 and $1.98.
- Non-GAAP diluted EPS is projected between $2.15 and $2.35.
Challenges Ahead
- Outlook does not include provisions for future asset impairments or pending legal matters.
- Certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast.
- Actual results may differ materially from the outlook.
- Guidance for diluted EPS attributable to other items is primarily attributable to acquisition-related items.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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