Analysts on Wall Street project that Qualcomm (QCOM) will announce quarterly earnings of $2.93 per share in its forthcoming report, representing an increase of 6.6% year over year. Revenues are projected to reach $10.92 billion, increasing 9.9% from the same quarter last year.

The consensus EPS estimate for the quarter has been revised 0.9% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Bearing this in mind, let's now explore the average estimates of specific Qualcomm metrics that are commonly monitored and projected by Wall Street analysts.

According to the collective judgment of analysts, 'Revenue- QCT- Handsets' should come in at $7.05 billion. The estimate suggests a change of +5.5% year over year.

The consensus estimate for 'Revenue- QCT- Automotive' stands at $904.50 million. The estimate indicates a year-over-year change of +51.3%.

Analysts forecast 'Revenue- QCT- IoT' to reach $1.38 billion. The estimate indicates a year-over-year change of +21.5%.

The average prediction of analysts places 'Revenue- QTL' at $1.55 billion. The estimate indicates a change of +6.3% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Revenue- QCT' of $9.34 billion. The estimate indicates a change of +10.9% from the prior-year quarter.

Analysts' assessment points toward 'Revenues- Non-GAAP Reconciling Items' reaching $40.51 million. The estimate indicates a year-over-year change of +3.9%.

Analysts expect 'Revenues- Equipment and services' to come in at $9.33 billion. The estimate suggests a change of +12.2% year over year.

It is projected by analysts that the 'Revenues- Licensing' will reach $1.64 billion. The estimate suggests a change of +1.1% year over year.

Analysts predict that the 'Income / (loss) before taxes- QCT' will reach $2.78 billion. Compared to the present estimate, the company reported $2.59 billion in the same quarter last year.

The combined assessment of analysts suggests that 'Income / (loss) before taxes- QTL' will likely reach $1.16 billion. Compared to the current estimate, the company reported $1.08 billion in the same quarter of the previous year.

View all Key Company Metrics for Qualcomm here>>>

Qualcomm shares have witnessed a change of +11.9% in the past month, in contrast to the Zacks S&P 500 composite's +2.9% move. With a Zacks Rank #2 (Buy), QCOM is expected outperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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