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Is the smartphone fad dying?
Chip-making Qualcomm not feeling so strong
Everyone's got a smartphone nowadays… Huh? I said, EVERYONE HAS A SMARTPHONE!
Qualcomm yesterday (April 22) predicted weaker-than-expected revenue and earnings for its third quarter. The chip-maker said its third quarter net income will be 67 cents to 82 cents a share on sales of $5.4 billion to $6.2 billion
Analysts had been expecting 99 cents a share earnings on sales of $6.46 billion, according to Bloomberg News. This was a big disappointment for Wall Street, and at 7 p.m. , Qualcomm, which sharply lowered its forecast for its business the rest of this year, was down 3 percent to $66.87.
For the full year, Qualcomm predicted revenues would come in at $25 billion to $27 billion. Earlier, it had forecast $26.3 billion to $28 billion.
For the second quarter, earnings per share plunged 46 percent to 63 cents, but beat analysts' expectations.
Here's something you might be interested in.
Is the smartphone fad dying?
Chip-making Qualcomm not feeling so strong
Is the smartphone fad dying?
Chip-making Qualcomm not feeling so strong
Everyone's got a smartphone nowadays… Huh? I said, EVERYONE HAS A SMARTPHONE!
Qualcomm yesterday (April 22) predicted weaker-than-expected revenue and earnings for its third quarter. The chip-maker said its third quarter net income will be 67 cents to 82 cents a share on sales of $5.4 billion to $6.2 billion
Analysts had been expecting 99 cents a share earnings on sales of $6.46 billion, according to Bloomberg News. This was a big disappointment for Wall Street, and at 7 p.m. , Qualcomm, which sharply lowered its forecast for its business the rest of this year, was down 3 percent to $66.87.
For the full year, Qualcomm predicted revenues would come in at $25 billion to $27 billion. Earlier, it had forecast $26.3 billion to $28 billion.
For the second quarter, earnings per share plunged 46 percent to 63 cents, but beat analysts' expectations.
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