NASDAQ$QCOM
Qualcomm Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Qualcomm's financial performance declined due to macroeconomic headwinds and weaker global handset units, but automotive revenue continued to show strong growth.
Qualcomm reported GAAP revenues of $8.5 billion and GAAP EPS of $1.60 for Q3 2023. The EPS exceeded the midpoint of the guidance range, and the QCT Automotive segment marked 11 straight quarters of year-over-year double-digit percentage growth in revenues.
- Qualcomm's technology leadership and product roadmap position the company well for long-term growth and diversification.
- On-device AI has the potential to drive an inflection point across all of Qualcomm's products.
- QCT Automotive revenue experienced 11 consecutive quarters of double-digit year-over-year growth.
- The company returned $1.3 billion to stockholders through dividends and share repurchases.
Headline financials
Revenue & EPS history
Qualcomm · Revenue · Quarterly
$8.45B
Revenue by segment
Qualcomm · $11.3B total across 2 segments · Q4 2022
- QCT$9.9B—87.3%
- QTL$1.44B—12.7%
Forward guidance
Qualcomm anticipates continued macroeconomic headwinds, weaker global handset units, and channel inventory drawdown to impact its Q4 fiscal year 2023 performance.
Tailwinds
- Revenues are expected to be between $8.1 billion and $8.9 billion.
- QCT revenues are projected to be between $6.9 billion and $7.5 billion.
- QTL revenues are estimated to be between $1.15 billion and $1.35 billion.
- GAAP diluted EPS is forecasted to be $1.37 - $1.57.
- Non-GAAP diluted EPS is expected to be $1.80 - $2.00.
Headwinds
- Guidance includes the continued impact of macroeconomic headwinds.
- Guidance includes the impact of weaker global handset units.
- Guidance includes the impact of channel inventory drawdown.
- Outlook does not include provisions for proposed tax law changes.
- Outlook does not include provisions for future asset impairments.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.5%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+4.4%
Avg return
30 days after
47%
34 / 73 earnings
Positive
+17.2%
Q3 2020
Best reaction
-16.1%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -1.9% | +19.6% | +60.9% | |
| Q1 2026 | -8.5% | -5.9% | -8.9% | |
| Q4 2025 | +0.7% | -3.2% | -2.7% | |
| Q3 2025 | -7.7% | -7.8% | +1.0% | |
| Q2 2025 | -8.9% | -5.8% | -2.2% | |
| Q1 2025 | -3.7% | -2.2% | -8.3% | |
| Q4 2024 | +4.2% | +1.4% | -3.9% | |
| Q3 2024 | -1.8% | -5.4% | +5.0% | |
| Q2 2024 | +8.6% | +9.6% | +23.0% | |
| Q1 2024 | -3.3% | -1.3% | +11.7% | |
| Q4 2023 | +7.7% | +10.0% | +19.0% | |
| Q3 2023 | -10.1% | -9.6% | -12.6% | |
| Q2 2023 | -8.2% | -6.7% | -0.4% | |
| Q1 2023 | -2.5% | -1.3% | -10.7% | |
| Q4 2022 | -11.5% | -6.2% | +7.1% | |
| Q3 2022 | -2.3% | -1.7% | -7.7% | |
| Q2 2022 | +11.0% | +8.8% | +4.7% | |
| Q1 2022 | +1.1% | -1.2% | -8.4% | |
| Q4 2021 | +15.4% | +22.6% | +30.5% | |
| Q3 2021 | +7.1% | +5.6% | +2.8% | |
| Q2 2021 | +3.4% | -0.4% | -2.5% | |
| Q1 2021 | -10.2% | -10.6% | -21.3% | |
| Q4 2020 | +15.9% | +13.7% | +25.6% | |
| Q3 2020 | +17.2% | +19.8% | +29.3% | |
| Q2 2020 | +4.5% | +0.5% | +7.4% | |
| Q1 2020 | +1.9% | -0.4% | -12.9% | |
| Q4 2019 | +5.3% | +7.5% | -1.9% | |
| Q3 2019 | -4.8% | -8.0% | +4.0% | |
| Q2 2019 | +1.2% | +2.5% | -22.4% | |
| Q1 2019 | +0.2% | +0.6% | +9.7% | |
| Q4 2018 | -8.8% | -14.4% | -12.0% | |
| Q3 2018 | +8.0% | +5.4% | +14.1% | |
| Q2 2018 | +1.1% | +2.1% | +20.1% | |
| Q1 2018 | -0.3% | -7.9% | -3.4% | |
| Q4 2017 | +7.5% | +22.6% | +28.4% | |
| Q3 2017 | -4.1% | -5.5% | -7.8% | |
| Q2 2017 | -0.0% | +0.3% | +9.5% | |
| Q1 2017 | -1.7% | -2.5% | +4.0% | |
| Q4 2016 | -2.0% | +0.2% | -3.7% | |
| Q3 2016 | +8.7% | +10.1% | +13.8% | |
| Q2 2016 | -0.3% | — | — | |
| Q1 2016 | -10.2% | — | — | |
| Q4 2015 | -16.1% | — | — | |
| Q3 2015 | -5.2% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | -11.3% | — | — | |
| Q4 2014 | -8.5% | — | — | |
| Q3 2014 | -6.6% | — | — | |
| Q2 2014 | -3.4% | — | — | |
| Q1 2014 | +1.8% | — | — | |
| Q4 2013 | -2.8% | — | — | |
| Q3 2013 | +1.8% | — | — | |
| Q2 2013 | -4.5% | — | — | |
| Q1 2013 | +4.1% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q4 2011 | +0.5% | — | — | |
| Q3 2012 | +7.3% | — | — | |
| Q2 2012 | -6.9% | — | — | |
| Q1 2012 | +3.2% | — | — | |
| Q3 2011 | -0.1% | — | — | |
| Q2 2011 | +6.6% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | +6.5% | — | — | |
| Q3 2010 | +6.4% | — | — | |
| Q2 2010 | -9.1% | — | — | |
| Q2 2009 | -13.7% | — | — | |
| Q1 2009 | -13.7% | — | — | |
| Q1 2010 | +0.3% | — | — | |
| Q4 2007 | +5.5% | — | — | |
| Q4 2009 | +5.5% | — | — | |
| Q3 2008 | -1.2% | — | — | |
| Q4 2008 | -1.2% | — | — | |
| Q3 2009 | -1.2% | — | — |
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