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…