Qualcomm (QCOM) earnings Q1 2023


Cristiano Amon, CEO of Qualcomm.

Steve Marcus | Reuters

Qualcomm shares fell 2% in extended trading on Thursday after the chipmaker reported lower fiscal first-quarter revenue than analysts had predicted and issued weak quarterly guidance. Here’s how the company did:

  • Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv.
  • Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv.

Qualcomm’s overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. Net income fell 34% to $2.24 billion. The macroeconomic environment and higher channel inventory hurt results, the…

Source cnbc.com

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