Qualcomm Incorporated QCOM is scheduled to report fourth-quarter fiscal 2024 earnings on Nov. 6, 2024. The Zacks Consensus Estimate for revenues and earnings is pegged at $9.9 billion and $2.56 per share, respectively. Earnings estimates for QCOM have improved from $10.05 per share to $10.08 for 2024 and from $10.92 per share to $10.93 for 2025 over the past 90 days.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

QCOM Estimate Trend

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Earnings Surprise History

The chip manufacturer delivered a four-quarter earnings surprise of 7.6%, on average, beating estimates on each occasion. In the last reported quarter, the company pulled off an earnings surprise of 3.6%.

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Earnings Whispers

Our proven model predicts an earnings beat for Qualcomm for the fiscal fourth quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is perfectly the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Qualcomm currently has an ESP of +0.48% with a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factors Shaping the Upcoming Results

With the accelerated rollout of 5G technology, Qualcomm is benefiting from investments toward building a licensing program in mobile. The company is well-positioned to meet its long-term revenue targets driven by solid 5G traction, greater visibility and a diversified revenue stream. The company intends to harness artificial intelligence (AI) to meet increased demands for essential products and services that are the building blocks of digital transformation in a cloud economy. Qualcomm envisions solid growth opportunities within the mobile space, driven by the strength of its Snapdragon portfolio.

During the fiscal fourth quarter, Qualcomm announced that Samsung deployed its advanced Snapdragon 8 Gen 3 Mobile Platform across the new Galaxy Z series smartphones, Galaxy Z Fold6 and Galaxy Z Flip6 models. The Snapdragon 8s Gen 3 mobile platform boasts an immersive Snapdragon Elite Gaming feature and AI-enhanced photos to help users capture and edit photos with improved quality and creativity. It highlights Qualcomm's growing prowess in the AI chip market, demonstrating its commitment to bringing top-tier AI experiences to end users.

In the fiscal fourth quarter, Qualcomm collaborated with Aramco to deploy generative AI-powered Internet of Things (IoT) solutions to accelerate digital transformation initiatives in Saudi Arabia. The solution suite includes a Rapid Response Solution that bolsters situational awareness and minimizes operational disruptions with the help of on-device AI and computer vision. The system features autonomous AI drones with generative AI flight control that respond quickly and effectively to onsite incidents.

The Factory Monitoring Solution delivers real-time insights and predictive analytics to enhance operational efficiency and safety with advanced video surveillance. Utilizing multimodal inputs and hybrid AI in conjunction with on-device AI and edge cloud AI processing, the Equipment Maintenance Solution streamlines maintenance practices. Moreover, its AI native worker assist technology effectively predicts and prevents equipment failures, optimizing performance, lowering maintenance costs and reducing downtime. These initiatives are likely to be reflected in the upcoming results.