Investing.com - Qualcomm (NASDAQ:QCOM) reported mixed third-quarter performance Wednesday as earnings beat, but revenue fell short of analysts' estimates.
The firm reported earnings per share of $0.8 on revenue of $4.89 billion. Analysts polled by Investing.com expected earnings per share of $0.76 on revenue of $5.09 billion. That compared to earnings per share of $1.01 on revenue of $5.63 billion in the same period a year earlier. The company had reported earnings per share of $0.77 on revenue of $4.88 billion in the previous quarter.
As well as weaker revenues, the chipmaker guided third-quarter earnings and revenue that significantly undershot analysts' expectations.
For the third quarter, the company said earnings per share would be between $0.65 and $0.75 per share (adjusted) on revenues between $4.3 billion and $5.1 billion. Analysts had been expecting earnings per share of $1.08 on revenue of $5.63 billion.
Qualcomm shares lost 2.82% to trade at $71.10 in after-hours trade following the report.
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