05:24 AM EDT, 07/31/2025 (MT Newswires) -- (Updates with the stock move and analyst comments in the headline and the last two paragraphs.)

Qualcomm ( QCOM ) reported fiscal Q3 adjusted net income late Wednesday of $2.77 per diluted share, up from $2.33 a year earlier.

Analysts polled by FactSet expected $2.71.

Revenue for the quarter ended June 29 was $10.37 billion, up from $9.39 billion a year earlier.

Analysts expected $10.34 billion.

For fiscal Q4, the company expects non-GAAP EPS of $2.75 to $2.95 on revenue of $10.3 billion to $11.1 billion.

Analysts are looking for $2.85 and $10.60 billion, respectively.

Qualcomm's ( QCOM ) sales growth is modest compared with other chipmakers beating estimates, CFRA, an independent research provider, said in a research alert to MTNewswires.com. CFRA also noted the managed disengagement from Apple (AAPL) remains an overhang for Qualcomm ( QCOM ) despite its strong execution in chip manufacturing and licensing businesses.

Shares of Qualcomm ( QCOM ) were 5.8% lower in recent premarket activity on Thursday.