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San Diego telecom company Qualcomm reported today (Nov. 6) that earnings per share for the quarter ended Sept. 28 were 52 cents, down 22 percent from a year earlier. The company forecast 2009 revenue of $10.2 billion to $10.8 billion. Wall Street had been expecting $12.1 billion. Qualcomm forecast first quarter earnings per share of 46 cents to 50 cents on revenue of $2.3 billion to $2.5 billion. Analysts expected earnings of 61 cents a share on revenues of $2.9 billion. The stock dropped 6 percent to $33.05 and in after-hour trading continued falling to $32.39. On Sept. 19, the stock closed at $48.72. On Oct. 3, Qualcomm stock was at $40.50.
San Diego telecom company Qualcomm reported today (Nov. 6) that earnings per share for the quarter ended Sept. 28 were 52 cents, down 22 percent from a year earlier. The company forecast 2009 revenue of $10.2 billion to $10.8 billion. Wall Street had been expecting $12.1 billion. Qualcomm forecast first quarter earnings per share of 46 cents to 50 cents on revenue of $2.3 billion to $2.5 billion. Analysts expected earnings of 61 cents a share on revenues of $2.9 billion. The stock dropped 6 percent to $33.05 and in after-hour trading continued falling to $32.39. On Sept. 19, the stock closed at $48.72. On Oct. 3, Qualcomm stock was at $40.50.