Earnings

Qualcomm (QCOM) earnings Q4 2022

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Qualcomm beats revenue, lowers 2023 first quarter guidance over demand weakness from China lockdowns

Qualcomm shares fell 7% in extended trading on Wednesday after the chipmaker reported in-line fiscal fourth-quarter earnings but offered poor first-quarter guidance.

Qualcomm also said it implemented a hiring freeze at the start of the current quarter.

Here’s how the company did:

  • Earnings: $3.13 per share, adjusted, vs. $3.13 per share as expected by analysts, according to Refinitiv.
  • Revenue: $11.39 billion, adjusted, vs. $11.37 billion as expected by analysts, according to Refinitiv.

Overall revenue grew 22% year-over-year in the quarter that ended Sept. 25, according to a statement.

With respect to guidance, Qualcomm called for fiscal first-quarter adjusted earnings of $2.25 to $2.45 per…



Source cnbc.com

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