REUTERS: Qualcomm Inc on Wednesday forecast current-quarter revenue largely below Wall Street targets, excluding a settlement payment from Apple Inc, sending its shares down 3 percent in after-hours trading.
The gloomy forecast comes a day after Apple said sales in China, the world's largest smartphones market, were stabilizing, helped by price cuts and lower taxes.Qualcomm forecast adjusted revenue between US$4.7 billion and US$5.5 billion for its third quarter ending June 30, the mid-point of which falls below analysts' average estimate of US$5.30 billion, according to IBES data from Refinitiv.
The world's biggest supplier of mobile phone chips also forecast third-quarter revenue for its patent licensing business between US$1.23 billion and US$1.33 billion, compared with analysts' estimates of US$1.01 billion, according to data firm FactSet. The company said the forecast for its third quarter included estimated revenue of US$4.5 billion to US$4.7 billion from the settlement.AdvertisementNet income attributable to Qualcomm rose to US$663 million, or 55 cents per share, in the quarter ended March 31, from US$330 million, or 22 cents per share, a year earlier.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intel cuts full-year revenue forecast, shares fallChipmaker Intel Corp forecast current-quarter revenue below analysts' estimates and cut full-year outlook on Thursday, sparking worries that an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Eli Lilly cuts revenue forecast, shares fallEli Lilly and Co's first-quarter profit more than tripled, as the U.S. drugmaker recorded a US$3.7 billion gain from its spin-off of animal health ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bombardier shares sink 15per cent after forecasts cut for profit, revenueCanada's Bombardier Inc on Thursday cut its full-year profit and revenue forecast, due to slower production ramp-up of some of its large projects ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Canada's Bombardier cuts full-year profit, revenue forecastCanada's Bombardier Inc on Thursday cut its full-year profit and revenue forecast, due to slower production ramp-up of some of its large projects ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Comcast first quarter profit beats Wall Street, misses on revenueComcast Corp reported first-quarter profit on Thursday that beat Wall Street estimates, boosted by strong additions of high-speed internet ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Intel cuts full-year revenue forecast, misses on data-centre salesChipmaker Intel Corp forecast current-quarter revenue below analysts' estimates and cut full-year outlook on Thursday, sparking worries that an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Intel cuts full-year revenue forecast, misses on data-center salesREUTERS: Chipmaker Intel Corp cut its full-year revenue forecast on Thursday and missed analysts' estimates for first-quarter sales for its ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Alphabet first-quarter revenue misses estimatesGoogle-parent Alphabet Inc missed Wall Street estimates for first-quarter revenue on Monday, amid increased scrutiny on the company's privacy ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
GSK first-quarter revenue beats estimates on shingles vaccine demandGlaxoSmithKline Plc on Wednesday reported a higher-than- expected 6 percent rise in first-quarter revenue, boosted by the British drugmaker's ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Eli Lilly misses estimates for diabetes drug Trulicity, cuts revenue forecastEli Lilly and Co's first-quarter profit more than tripled, as the U.S. drugmaker recorded a US$3.7 billion gain from its spin-off of animal health ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Swedbank first-quarter profit above forecast, says cooperating with US authoritiesSwedish bank Swedbank reported first-quarter profit above market expectations on Thursday but admitted to past anti money-laundering shortcomings ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »