NEW YORK (TheStreet) -- Qualcomm (QCOM) - Get Report stock is rising by 1.94% to $48.50 in afternoon trading on Tuesday, before the company's fiscal 2016 first quarter financial results, due out on Wednesday after the market close.

The San Diego-based wireless technology company is expected to report a year-over-year decline in earnings and revenue as smartphone demand wanes.

Qualcomm, however, has seen stronger pricing and shipping from 3G and 4G devices and expects its earnings per share to be in the high end of its guidance of 80 cents to 90 cents per share.

Wall Street analysts are anticipating earnings of 90 cents per share on $5.69 billion in revenue for the latest quarter.

Qualcomm posted earnings of $1.34 per share on revenue of $7.1 billion for the quarter ended December 28, 2014.

"We believe a clean quarter and solid guide is a necessary first step to getting more constructive on Qualcomm," Nomura analysts said in a note this morning, adding that "forward estimates have been declining for more than a year."

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Separately, Qualcomm has a "hold" rating and a letter grade of C+ at TheStreet Ratings because of the company's expanding profit margins, good cash flow, largely solid financial position, deteriorating net income, disappointing stock performance and feeble earnings per share growth.

You can view the full analysis from the report here: QCOM

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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