Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations, particularly for sales, and provided strong guidance for the current quarter.
Qualcomm said it expected between $9.5 billion and $10.3 billion in sales in the current quarter, compared to Wall Street expectations of $9.71 billion.
Handset sales rose 12% on a year-over-year basis to $5.9 billion in revenue, in line with analyst estimates from StreetAccount, which suggests that a deep slump in smartphone sales over the past two years is abating.
Those three hardware lines are reported together as QCT, the company's chip business, which in total reported $8.1 billion in sales, up 12% year-over-year.
Qualcomm also collects licensing fees from companies that integrate 5G or other cellular technologies into their products, reported as QTL sales.
Persons:
Cristiano Amon, StreetAccount
Organizations:
Qualcomm, Samsung, Microsoft
Locations:
Las Vegas , Nevada, U.S, StreetAccount