Shulou(Shulou.com)11/24 Report--

According to news in the morning of August 3, Beijing time, Qualcomm today released its financial results for the third quarter of fiscal year 2023, which ended on June 25. Qualcomm's third-quarter revenue was $8.451 billion, down 23% from a year earlier, according to the report. Net profit was $1.803 billion, down 52 per cent from a year earlier. Net profit, excluding Non-GAAP, was $2.105 billion, down 37 per cent from a year earlier.

On average, 22 analysts expect Qualcomm's third-quarter revenue to reach $8.5 billion. Qualcomm reported third-quarter revenue of $8.451 billion, below analysts' expectations.

On average, 23 analysts expect diluted earnings per share of $1.81 for Qualcomm in the third quarter. Qualcomm reported diluted earnings of $1.87 a share in the third quarter, higher than analysts' expectations.

Third-quarter results: revenue was $8.451 billion, down 23% from $10.936 billion a year earlier.

Of this total, QCT's revenue was $7.174 billion, down 24% from $9.378 billion a year earlier. The QCT division is Qualcomm's largest division, selling processors for smartphones, cars and other smart devices. Mobile phone chips are the largest business in the QCT division, with revenue of $5.26 billion in the third quarter, down 25 per cent from a year earlier.

The QTL division had revenue of $1.23 billion, down 19% from $1.519 billion a year earlier. The QTL department is mainly responsible for Qualcomm's licensing business.

Costs and expenses were $6.628 billion, compared with $6.464 billion in the same period last year.

Of this total, revenue costs were $3.792 billion, compared with $4.816 billion in the same period last year.

Spending on R & D was $2.222 billion, compared with $2.052 billion in the same period last year.

Sales, general and administrative expenses were $618 million, compared with $655 million in the same period last year.

Net profit was $1.803 billion, down 52 per cent from $3.73 billion a year earlier.

Diluted earnings per share were $1.60, down 51% from $3.29 a year earlier.

Net profit, excluding Non-GAAP, was $2.105 billion, down 37 per cent from a year earlier.

Diluted earnings per share were $1.87, down 37% from $2.96 a year earlier.

In the third quarter, Qualcomm paid $893 million in dividends and bought back $400m of shares.

Performance outlook: Qualcomm expects revenue of $8.1 billion to $8.9 billion in the fourth quarter of fiscal 2023

Diluted earnings per share will reach $1.37 to $1.57.

Without Non-GAAP, diluted earnings per share would be between $1.80 and $2.00.

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