Qualcomm Incorporated QCOM is set to report second-quarter fiscal 2021 results on Apr 28, after the closing bell. In the last reported quarter, the company delivered a positive earnings surprise of 3.3%. It pulled off a trailing four-quarter earnings surprise of 14%, on average.This San Diego, CA-based company is expected to have recorded higher revenues year over year, driven by the ramp-up in 5G-enabled chips and license agreement with Huawei. The company continues to benefit from advanced radio frequency (RF) front-end solutions for high-performance 5G devices.Factors at PlayDuring the fiscal second quarter, Qualcomm and NIO USA announced a working relationship to feature the latest digital cockpit technologies in NIO’s flagship sedan. Also, Qualcomm and General Motors announced the extension of their relationship to deliver premium experiences to upcoming vehicles.Visteon, connected car technology leader ECARX and Qualcomm announced an initiative to develop intelligent cockpit solutions across conventional and electric vehicle applications. Qualcomm collaborated with Bharti Airtel, India’s premier communications solutions provider, to accelerate 5G in India.In the quarter, the company unveiled the Snapdragon 870 5G Mobile Platform, which features an enhanced Kryo 585 CPU prime core clock speed of up to 3.2 GHz. It unveiled the second-generation 5G Fixed Wireless Access platform with up to 10-gigabit connectivity for homes and businesses.Qualcomm completed the acquisition of CPU and technology design company, NUVIA for $1.4 billion. The buyout builds on Qualcomm’s Snapdragon technology leadership and delivers improvements in CPU performance and power efficiency to meet the demands of 5G computing. Such notable developments are likely to have had a positive impact on the company’s top line in the fiscal second quarter.The Zacks Consensus Estimate for the Qualcomm CDMA Technologies (QCT) segment’s revenues is pegged at $6,252 million. It indicates a rise of 52.5% from the year-ago quarter’s reported figure. The higher projection reflects strength in handsets and demand in adjacent platforms beyond mobile (RF front-end, automotive and IoT).The consensus estimate for Qualcomm Technology Licensing (QTL) revenues is $1,343 million, which indicates growth of 25.3% year over year. The performance is likely to have been driven by higher royalty revenues from Huawei, global handset shipments and a favorable OEM mix.For the March quarter, the Zacks Consensus Estimate for revenues is pegged at $7,626 million, indicating growth of 46.2% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at $1.67, which suggests an increase of 89.8%.What Our Model SaysOur proven model doesn’t conclusively predict an earnings beat for Qualcomm this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: Qualcomm’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at $1.67.QUALCOMM Incorporated Price and EPS Surprise QUALCOMM Incorporated price-eps-surprise | QUALCOMM Incorporated QuoteZacks Rank: Qualcomm currently has a Zacks Rank #3.Stocks to ConsiderHere are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:Great Western Bancorp, Inc. GWB is slated to release second-quarter fiscal 2021 results on Apr 29. It has an Earnings ESP of +5.46% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.United States Steel Corporation X is scheduled to release first-quarter 2021 results on Apr 29. The company has an Earnings ESP of +29.67% and a Zacks Rank #2.Generac Holdings Inc. GNRC has an Earnings ESP of +1.94% and a Zacks Rank of 2. The company is set to report first-quarter 2021 results on Apr 29.Zacks' Top Picks to Cash in on Artificial IntelligenceIn 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Steel Corporation (X): Free Stock Analysis Report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report Great Western Bancorp, Inc. (GWB): Free Stock Analysis Report Generac Holdings Inc. (GNRC): Free Stock Analysis Report To read this article on Zacks.com click here.