Latest News

Qualcomm Earnings Outlook Dented by Smartphone Demand Woes

Qualcomm posted a 36% increase in sales to $10.94 billion for its most recent quarter.Photo: Bing Guan/Bloomberg News

Mobile-phone chip supplier Qualcomm issued a muted sales outlook for the quarter, reflecting slowing consumer appetite for smartphones as soaring inflation and economic uncertainty cause people to curtail discretionary spending.

The San Diego-based company, one of the world’s largest providers of chips for phone handsets, on Wednesday reported a 36% increase in sales to $10.94 billion for its most recent quarter, beating a $10.86 billion estimate from analysts surveyed by FactSet. Its forecast for between $11 billion and $11.8 billion in revenue for the current quarter fell short of Wall Street forecasts, however.

Most Popular news

Most Popular opinion

Recommended Videos

ServiceNow’s Profits Top Estimates, but Currency Slows Near-Term Growth

Previous article

Congress May Soon Pass RMD Age Hikes And Retirement Aid For Student Borrowers

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News