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Qualcomm stock slips further after hours as outlook overshadows earnings beat

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Qualcomm shares declined further in Wednesday's extended session as the chip maker's forecast was on the low side of Wall Street estimates.

Qualcomm Inc. shares declined further in Wednesday’s extended session as the chip maker’s forecast was on the low side of Wall Street estimates following an earnings beat.

Analysts surveyed by FactSet forecast third-quarter earnings... Qualcomm Inc. shares declined further in Wednesday’s extended session as the chip maker’s forecast was on the low side of Wall Street estimates following an earnings beat. Analysts surveyed by FactSet forecast third-quarter earnings of $1.81 a share on revenue of $8.51 billion.

The company reported fiscal third-quarter net income of $1.8 billion, or $1.60 a share, compared with $3.73 billion, or $3.29 a share, in the year-ago period. The chip maker reported adjusted earnings, which exclude stock-based compensation expenses and other items, of $1.87 a share, compared with $2.96 a share in the year-ago period.

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