Shares of Qualcomm Inc. slid in extended trading Wednesday after its latest quarterly results and forecast fell short of Wall Street estimates.
The San Diego-based chipmaker reported net income of $1.89 billion, or $1.11 per share, over the three months that ended Sept. 28. Excluding one-time items Qualcomm said it earned $1.26 per share. Its revenue totaled $6.69 billion.
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Zacks Investment Research says analysts expected net income of $1.31 per share and $7.03 billion in revenue for the fiscal fourth quarter.
For the current quarter, which ends in December, Qualcomm expects to earn between $1.18 and $1.30 per share on $6.6 billion to $7.2 billion in revenue.
Analysts were forecasting an adjusted profit of $1.44 per share on $7.38 billion in revenue, on average.
Qualcomm shares declined $4.37, or 5.7 percent, to $72.83 in aftermarket trading. They closed at $77.20 on Wednesday, up 5 percent in 2014.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research. QCOM stock research report from Zacks.