QUALCOMM Incorporated (NASDAQ:QCOM) is projected to declare fiscal second quarter financial results right after the stock market’s official close on April 19, 2017. The stock added about 3.1 percent in price since last results when it was at $56.9 a share. Based on the most relevant past-periods data, there is an 55.56 percent probability for this firm’s share price to go down following next quarterly results. Earnings reaction history tells us that the equity price moved down 15 times out of last 27 reported quarters. It has beaten earnings-per-share estimates 83% of the time in its last 12 earnings reports. It fell short of earnings estimates on 1 occasions, and it has met expectations 1 time.
Here’s how traders responded to QCOM earnings announcements over the past few quarters.
QUALCOMM Incorporated (QCOM) Earnings Surprises & Reaction
Given its history, the average earnings announcement surprise was 13.01 percent over the past four quarters. Back on January 25, 2017, it posted earnings per-share earnings at $1.06 which came in line with the consensus $1.06 projection (no surprise). For the quarter, revenue came in at 5.99B versus consensus estimate of 6.12B. The stock dropped -5.01 percent the session following the earnings reports were released, and on 7th day price change was 0 percent.
On November 2, 2016, it reported earnings at $1.17 a share compared with the consensus estimate of $0.98 per share (positive surprise of 19.39%). Revenue of 6.17B for that quarter was above the $5.84B analysts had expected. The stock retreated -0.2% the day following the earnings announcement, and on 7th day price change was 1.19%.
On July 20, 2016, it recorded $1.03 a share in earnings which topped the consensus estimate of $0.83 (positive surprise of 24.1%). Revenue for the quarter was $6.03B while analysts called for revenues to be $5.63B. The stock gained 7.36% the day following the earnings data was made public, and on 7th day price change was 11.98%.
On April 20, 2016, it announced earnings per share at $0.89 versus the consensus estimate of $0.82 per share (positive surprise of 8.54%). That came on revenues of $5.54B for that period. Analysts had expected $5.34B in revenue.
QUALCOMM Incorporated Earnings Estimates
As Q2 earnings announcement date approaches, Wall Street is expecting earnings per share of $1.22. The analysts’ present consensus range is $1.07-$1.36 for EPS. The market consensus range for revenue is between $6.15B and $6.7B, with an average of $6.37B.
QUALCOMM Incorporated (NASDAQ:QCOM) last ended at $58.46, sending the company’s market cap near $86.35B. The consensus 12-month price target from analysts covering the stock is $64.99. The share price has declined -16.97% from its top level in 52 weeks and advanced -9.5% this year. It recently traded in a range of $58.2-$59.04 at a volume of 7385528 shares. The recent trading ended with the price nearly 3.56 higher for the last 5 trading days, rebounding 21.9% from its 52-week low.