Qualcomm reported fourth-quarter earnings on Wednesday that beat expectations for sales and earnings, despite big year-over-year declines, and gave a strong forecast for the current quarter.that beat expectations for sales and earnings, despite big year-over-year declines and gave a strong forecast for the current quarter.Here's how the chipmaker did for the third quarter per LSEG consensus expectations:Qualcomm said it expected adjusted earnings of between $2.25 and $2.
Qualcomm's fortunes are tied to the smartphone industry, which has been in a slump for nearly two years after the Covid pandemic created a boom in sales. It makes the processors at the heart of most high-end Android devices and many lower-end phones as well. The company's automotive business was a bright spot for QCT, increasing 15% year-over-year to $535 million in sales during the quarter, beating Wall Street expectations. It's still a small business but continues to grow as Qualcomm convinces more automakers and parts manufacturers to use its chips in cars.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nbcchicago - 🏆 545. / 51 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »