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FINANCIALS

Earnings Whispers: Qualcomm Inc (QCOM) And AT&T Inc. (T)

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The Country Caller discusses recent quarter earnings forecasts of Qualcomm and AT&T before their respective announcements later in the evening today

After the market closes on Wednesday, January 25, QUALCOMM, Inc. (NASDAQ:QCOM) and AT&T Inc. (NYSE:T) will announce their earnings for the first quarter of fiscal year 2017 (1QFY17) and 4QFY16, respectively. While the companies have published mixed financial results in the previous quarters, forecasts suggest that both QCOM and T are likely to exceed analysts’ predictions on the top line whereas QCOM is also expected to outperform on bottom line.

Qualcomm, Inc.

Wall Street analysts have given Qualcomm consensus earnings per share (EPS) projection of $1.19. While this is expected to result in a decline of 7% quarter-over-quarter, it will also lead to growth of about 23% on the bottom line. On the other hand, Earningswhispers.com expects the company to exceed both Street expectations and QCOM’s 1Q EPS outlook of $1.12-1.22, with its EPS estimate of $1.24.

Reportedly, Qualcomm’s previous quarter revenues were published at $6.2 billion. Interestingly, this is similar to what Estimize.com predicts to be announced during the upcoming quarterly announcements. Moreover, Street analysts also expect the $70.93 billion business to report $6.12 billion net sales, well within QCOM’s Q1 revenue guidance of $5.7-6.5 billion. The California-based company also witnessed about $5.8 billion net sales for the prior year quarter.

AT&T Inc.

The analysts have also upheld AT&T’s consensus EPS estimate at 66 cents. This is consistent with the expectations held by analysts at Earningswhispers.com. However, the number suggests a decline of about 11% QoQ on bottom line as T reported 74 cents in EPS during the last quarter. Additionally, the company’s 4QFY15 EPS came in at 63 cents.

The $257.36 billion company is also expected by Wall Street to publish $42.1 billion revenue this season, consistent with 4QFY15. This is slightly lower than Estimize.com’s top line estimate of $42.17 billion. Furthermore, the Texas-based company reported $40.9 billion revenue for 3Q.

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