Will Qualcomm Report Upbeat Results? Here's A Preview

QUALCOMM, Inc. QCOM is scheduled to announce its first quarter financial results on Wednesday afternoon.

The company is guiding earnings of $1.34 per share (same as in the last quarter) on revenue of $6.8 billion. In the same quarter last year, Qualcomm reported EPS of $1.31.

According to Estimize, the crowd also expects EPS of $1.34, on slightly higher revenue of $6.815 billion. The Street is somewhat less bullish, anticipating consensus EPS of $1.33 on revenue of $6.805 billion.

The graph below shows the company’s estimates and actual earnings history:

On top of the above info, Estimize provides data on how estimates have changed over the quarter.

Related Link: Facebook, eBay, AT&T, Qualcomm: What's Wall Street Saying?

Both the crowd and the Street have been gaining confidence over the first quarter. The gap that existed between Wall Street and crowd estimates in January closed as the months went by. The difference is now of only a cent.

What The Street Says

In a recent report, analysts at Brean Capital commented on the substantial negativity relating to share loss in Samsung Electronics Co Ltd's Galaxy S6. The analysts say the issue is “very well understood” by investors and the company. Consequently, Qualcomm factored this into its guidance, meaning shareholders can expect results close to guidance.