Qualcomm's ongoing legal dispute with Apple is taking a serious toll on the company's financials. The biggest hit, however, was in Qualcomm's net income, down 40% year over year at $866 million, with earnings of 58 cents per shares. To get regulators to act against the company, Apple provided false and misleading statements to government regulators, Qualcomm claimed. The latest in Qualcomm's legal fight is that four of Apple's manufacturers have banded together to accuse Qualcomm of violating United States antitrust law. Earlier this week at the Fortune Brainstorm Tech conference in Aspen, Colorado, Mollenkopf predicted the Apple dispute would be resolved out of court.

Source: Forbes July 19, 2017 21:11 UTC