Investors were watching Qualcomm results closely for signs of a recovery amid mixed results from other semiconductor companies this earnings season. AdvertisementWall Street analysts were expecting revenue of $10.89 billion and adjusted earnings of $2.86 per share for the third quarter. Despite beating forecasts in the recent quarter, Qualcomm’s guidance for what’s usually a seasonally strong fourth quarter wasn’t as rosy. Analysts were predicting fourth quarter revenue of $11.92 billion and adjusted earnings of $3.30 per share. Previously, the company forecast 5G handset sales would reach 750 million.

Source: New York Times July 28, 2022 01:16 UTC