Qualcomm Inc QCOM shares are trading lower by 2.8% to $118.09 Monday afternoon on continued weakness after the company last week reported a third-quarter revenue miss and issued guidance with a midpoint below consensus estimates.
What Happened With Earnings Last Week?
Qualcomm reported third-quarter revenue of $8.44 billion, a 23% YoY decrease, slightly missing the Street estimate of $8.51 billion. However, the company's earnings per share of $1.87 beat the Street estimate of $1.81.
The QCT segment revenue was $7.17 billion, down 24% YoY, while the QTL segment revenue was $1.23 billion, down 19% YoY.
“We are pleased with our technology leadership, product roadmap and design-win execution, which position us well for growth and diversification in the long term,” Qualcomm CEO Cristiano Amon said...Read More
According to data from Benzinga Pro, Qualcomm has a 52-week high of $152.91 and a 52-week low of $101.47.
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