After the market close, 5G wireless mobile processor and chipset maker Qualcomm may provide a muted earnings outlook for its fiscal third quarter.

The Wall Street consensus forecast calls for Qualcomm QCOM -0.07% (ticker: QCOM) to report June revenue of $8.5 billion and adjusted earnings per share of $1.81. For the current quarter, analysts estimate EPS of $1.92 on revenue of $8.7 billion.

Global demand for smartphones remains weak. Last week, research firm Canalys reported that global shipments of these cell phones fell 10% in the second quarter from a year earlier. Taiwan Semiconductor Manufacturing (TSM) also said last month that the smartphone market has deteriorated over the past three months.

As the largest supplier to the mobile device market, Qualcomm will have a tough time delivering strong results in the coming months.