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Qualcomm Inc. (NASDAQ:QCOM) shares are trading lower Thursday, following the release of its fiscal third-quarter earnings.
Earnings Recap: Qualcomm reported third-quarter results with revenues of $9.4 billion, surpassing the consensus estimate of $9.22 billion. The company’s earnings per share (EPS) also beat expectations, coming in at $2.33 versus the anticipated $2.25.
This performance was driven by strong growth in the Auto and IoT segments. However, the guidance for the next quarter highlighted potential headwinds, particularly the earlier-than-expected revoking of the company’s license to sell to Huawei.
Analysts’ Updates:
Price Action: Qualcomm’s shares were down by 9.52% to $163.72, according to Benzinga Pro.
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Posted In: QCOM