Qualcomm Incorporated (NASDAQ: QCOM) reported third quarter 2023 earnings results today.
Revenues decreased 23% year-over-year to $8.4 billion.
GAAP net income fell 52% to $1.8 billion, or $1.60 per share, compared to last year. Adjusted EPS dropped 37% to $1.87.
Both revenue and earnings beat expectations.
For the fourth quarter of 2023, the company expects revenues of $8.1-8.9 billion and adjusted EPS of $1.80-2.00.
The stock was down over 3% in aftermarket hours on Wednesday.
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