.August 1, 2024 10:25 AM

Qualcomm (NASDAQ:QCOM) exceeded analyst expectations in the third quarter, reporting an EPS of $2.33 and revenue of $9.39 billion, beating estimates by $0.08 and $0.18 billion, respectively.

The company provided an optimistic forecast for the fourth quarter of fiscal 2024, with an EPS range of $2.45 to $2.65, higher than the Street estimate of $2.45. Qualcomm also projected revenue between $9.5 billion and $10.3 billion, surpassing the estimated $9.71 billion.

President and CEO Cristiano Amon credited the strong performance to Qualcomm’s growth strategy and the impressive results of its QCT segment, highlighting the introduction of Snapdragon X Series solutions for PCs as a significant milestone.