Qualcomm Earnings Outlook Dented by Smartphone Demand Woes


Cell-phone chip provider Qualcomm lower its smartphone cargo forecast for this 12 months and issued a muted gross sales outlook, reflecting slowing shopper urge for food for smartphones as hovering inflation and financial uncertainty trigger folks to curtail discretionary spending.

The San Diego-based firm, one of many world’s largest suppliers of chips for cellphone handsets, on Wednesday reported a 36% enhance in gross sales to $10.94 billion for its most up-to-date quarter, beating a $10.86 billion estimate from analysts surveyed by FactSet. Its forecast for between $11 billion and $11.8 billion in income for the present quarter fell wanting Wall Avenue forecasts, nevertheless.


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