Categories AlphaGraphs, Earnings, Technology
Qualcomm (QCOM) Q2 profit dips 29% but beats estimates
The actual impact of COVID-19 on results will differ due to challenging economic environment and uncertain effects
Qualcomm Inc. (NASDAQ: QCOM) reported its financial results for the quarter ended March 31, 2020 today. The results exceeded analysts’ expectations.
Qualcomm posted a 29% drop in earnings for the second quarter of 2020 due to a negative impact from the global COVID-19 pandemic, which caused a reduction in demand for 3G/4G/5G handsets of about 21%. However, the top-line increased by 5% higher revenue from Qualcomm CDMA Technologies.
Given the uncertainty caused by the COVID-19, including the timing and pace of economic recovery, the company’s guidance for Q3 FY20 is based on a planning assumption that there will be about a 30% reduction in handset shipments relative to its prior estimates. For Q3, the company sees revenue of $4.4-5.2 billion, EPS of $0.29-0.49, and adjusted EPS of $0.60-0.80.
Past Performance
Qualcomm Q1 2020 Earnings Results
QCOM Q4 2019 Earnings Performance
Most Popular
Important takeaways from Conagra Brands’ Q3 2025 report
Conagra Brands, Inc. (NYSE: CAG) has reported weaker-than-expected revenue and profit for the February quarter, with sales declining across all business segments amid softer demand and persistent supply challenges. The
Main takeaways from Lamb Weston’s (LW) Q3 2025 earnings report
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) jumped 9% on Thursday after the company delivered better-than-expected results for the third quarter of 2025 and reaffirmed its outlook for the
Summary: Tesla (TSLA) reports Q1 2025 production, deliveries
Tesla Inc. (NASDAQ: TSLA) has announced results of vehicle production and deliveries for the first quarter of 2025. The company also provided data on the deployment of energy storage products
