Qualcomm expects adjusted profit to be between $2.05 and $2.25 per share in the fourth quarter, below analysts' average estimate of $2.36, according to data compiled by LSEG.
It forecast revenue of between $9.7 billion and $10.5 billion during the period, compared with estimates of $10.02 billion.
Revenue in its chip segment is expected to be between $8.4 billion and $9 billion, while analysts were expecting $8.49 billion.
Qualcomm reiterated that revenue from Chinese phone makers bottomed out in the third quarter as customers worked through excess inventory.
Xiaomi, Oppo and Vivo posted the steepest shipment declines among the top five global smartphone vendors in the June quarter, according to Counterpoint Research.
While unit sales of Android phones began to recover, Amon said handset makers were forced to raise prices, which in turn prompted buyers to look toward the bottom end of the premium phone segment, or even at older models, both of which hurt Qualcomm margins.
"There was a mix change versus what we expected," Amon said.
Qualcomm's broad exposure to devices such as smartphones makes its results a closely watched indicator of demand trends across consumer electronics.
Its third-quarter revenue fell 4% to $9.95 billion, beating estimates of $9.67 billion. Adjusted profit came in at $2.21 per share, compared with estimates of $2.23.
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