The QUALCOMM Incorporated (NASDAQ:QCOM) Third-Quarter Results Are Out And Analysts Have Published New Forecasts

Shareholders might have noticed that QUALCOMM Incorporated (NASDAQ:QCOM) filed its third-quarter result this time last week. The early response was not positive, with shares down 6.5% to US$164 in the past week. QUALCOMM reported US$9.4b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$1.88 beat expectations, being 4.8% higher than what the analysts expected. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on QUALCOMM after the latest results.

View our latest analysis for QUALCOMM

Following the latest results, QUALCOMM's 31 analysts are now forecasting revenues of US$42.0b in 2025. This would be a notable 12% improvement in revenue compared to the last 12 months. Per-share earnings are expected to ascend 17% to US$9.27. Before this earnings report, the analysts had been forecasting revenues of US$42.2b and earnings per share (EPS) of US$9.27 in 2025. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results.

The analysts reconfirmed their price target of US$217, showing that the business is executing well and in line with expectations. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. There are some variant perceptions on QUALCOMM, with the most bullish analyst valuing it at US$270 and the most bearish at US$140 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. We can infer from the latest estimates that forecasts expect a continuation of QUALCOMM'shistorical trends, as the 9.7% annualised revenue growth to the end of 2025 is roughly in line with the 12% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 18% per year. So it's pretty clear that QUALCOMM is expected to grow slower than similar companies in the same industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that QUALCOMM's revenue is expected to perform worse than the wider industry. The consensus price target held steady at US$217, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for QUALCOMM going out to 2026, and you can see them free on our platform here..

You should always think about risks though. Case in point, we've spotted 1 warning sign for QUALCOMM you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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