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Qualcomm Shares Slide on Weak Guidance

Qualcomm (NASDAQ:QCOM) reported Wednesday afternoon a 16% decline in its second-quarter profit, while sales topped Wall Street expectations and core earnings rose.The company's profit was $1.87 billion, or $1.06 a share, down from $2.23 billion, or $1.28 a share, in the year-earlier period. Adjusted per-share earnings, which exclude acquisition-related charges and other items, checked in at $1.17 versus $1.01.Revenue rose 24% year-over-year to $6.12 billion. Analysts were looking for $6.09 billion in sales, while adjusted earnings matched estimates.For the current quarter, Qualcomm is aiming for adjusted per-share earnings of 97 cents to $1.05 and revenue of $5.8 billion to $6.3 billion. Analysts were projecting earnings of $1.04 a share on revenue of $5.88 billion.The light outlook sent shares tumbling 5% to $62.67 in after-hours trading.In the fiscal second-quarter period, the company shipped 173 million of its MSM modem chips, a 14% increase.The decline in PC sales has hurt some ind...

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  1. Qualcom CEO's Pay Slips with Smaller Bonus

    Qualcomm Inc. (QCOM) Chief Executive Paul Jacobs's total compensation dipped 4.6% last fiscal year after his performance-based cash award failed to match the previou...

  2. Qualcomm Shows Brains Behind Smartphone Technology

    Qualcomm CEO Paul Jacobs on the growth of the smartphone.

  3. Which Products Will Rock CES in 2013?

    FBN’s Liz Claman previews the 2013 Consumer Electronics Show.

  4. Qualcomm Opens CES with New Chip

    Qualcomm Inc (NASDAQ:QCOM) Chief Executive Paul Jacobs announced an improved smartphone chip and had help from guests ranging from Steve Ballmer and Big Bird to Maro...

  5. Cars, Homes Smarten Up at Vegas Tech Extravaganza

    At the world's largest technology conference that kicks off on Monday, the most intriguing innovations showcased may be gadgets and technology that turn everyday ite...

  6. Qualcomm CEO: Smartphones Really Driving the Business

    Qualcomm CEO Paul Jacobs on the company’s outlook and factors driving the company’s success.

  7. Qualcomm to Open Tablet Research Facility in Sao Paulo

    Qualcomm Inc. (QCOM) plans to open a research and development facility in Sao Paulo that will be dedicated to tablet computers and mobile communications.The facility...

  8. Qualcomm Posts 3Q Miss, Cuts Full-Year View

    Qualcomm Inc. (NASDAQ:QCOM) saw strong fiscal third-quarter top-line growth of 28%, and profit that increased 17%, but the chip-maker "moderated" its full-year view,...

  9. Qualcomm Investors May See Bottom, Analyst Says

    Shares of Qualcomm Inc. picked up more than 4.7% in after-hours trades on Wednesday, despite issuing a forecast for the current quarter that fell below Wall Street's...

  10. QUALCOMM Incorporated 3Q Results: Postgame Scorecard

    QUALCOMM Incorporated (NASDAQ:QCOM) reported increased profit for the third quarter as revenue rose.Earnings and Revenue Both EPS and revenues failed to meet Wall St...

  11. Qualcomm CEO on Health-Care, Future of Technology

    Qualcomm CEO Paul Jacobs argues some parts of the health-care law could encourage new technologies.

  12. Qualcomm Shares Fall on Weak 3Q Forecast

    Despite reporting a 123% jump in second-quarter profit and higher sales, shares of Qualcomm (NASDAQ:QCOM) tumbled 6% late Wednesday on a forecast for the current qua...

  1. Qualcomm Lifts Dividend, Unveils Buyback

    Mobile chip maker Qualcomm (NASDAQ:QCOM) unveiled new plans to return cash to shareholders on Tuesday by hiking its quarterly dividend 40% and revealing a new $5 bil...

  2. N.Y. Comptroller: Qualcomm to Post Political Donations Online

    Qualcomm Inc. (QCOM) agreed to implement a revised political-spending disclosure policy to avoid a lawsuit filed by the New York State Common Retirement Fund.New Yor...

  3. Obama Meets With Business Leaders on Immigration

    Former White House Chief Economic Advisor Austan Goolsbee on immigration reform.

  4. Qualcomm Buoyed by End of Phone-Chip Shortage

    Qualcomm Inc. (QCOM) has seen the end of the recent shortages of its chips for smartphones, and the results generated some record quarterly numbers.The San Diego-bas...

  5. Qualcomm 1st-Quarter Net Grows 36%; Davis Named New CFO

    Qualcomm Inc.'s (QCOM) fiscal first-quarter profit surged 36% as brisk demand from smartphone manufacturers continued to drive the chip maker's stronger-than-expecte...

  6. Smartphone Demand Lifts Qualcomm in 1Q

    Qualcomm (NASDAQ:QCOM) revealed stronger-than-expected first-quarter sales and earnings late Wednesday, lifted by growing demand for smartphones and licensing fees.T...

  7. Qualcomm CEO: We’re Very Focused on Value Smartphones

    Qualcomm CEO Paul Jacobs on the growth of value smartphones and the importance of the Chinese market for revenue.

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