Qualcomm's Revenue Forecast Falls Short, Shares Decline

Published 1 hours agoQCOM

Qualcomm's Revenue Forecast Falls Short, Shares Decline

Qualcomm recently announced an anticipated third-quarter revenue of around $10.3 billion, which is slightly below analysts' expectations of $10.35 billion. This announcement has raised concerns among investors and impacted the company's stock performance negatively. Qualcomm also provided guidance on its adjusted earnings per share (EPS) for the upcoming quarter, projecting it to be between $2.60 and $2.80, according to Reuters.

The shortfall in revenue projections is primarily attributed to weak demand for smartphone chips. This decrease in demand is influenced by macroeconomic factors and ongoing global trade uncertainties. Although Qualcomm is currently exempt from U.S. tariffs, the company is not immune to the effects of escalating trade tensions between China and the U.S. China remains a significant market for Qualcomm, comprising 46% of its sales last fiscal year. Following these developments, the company's shares saw a 6% drop in extended trading.

CEO Cristiano Amon has underscored the company's commitment to focusing on its core strengths, such as technology and operational efficiency, to navigate these challenging economic and trade conditions. These strategic priorities aim to support Qualcomm in overcoming the uncertainties in its key markets.

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