Qualcomm revenue up 22% but shares fall on first-quarter guidance

Qualcomm shares fell 6% successful extended trading connected Wednesday aft the chipmaker reported in-line fiscal fourth-quarter earnings but offered mediocre first-quarter guidance.

Here's however the institution did:

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

Overall gross grew 22% twelvemonth implicit twelvemonth successful the 4th that ended Sept. 25, according to a statement.

With respect to guidance, Qualcomm called for fiscal first-quarter adjusted net of $2.25 to $2.45 per stock connected $9.2 cardinal to $10 cardinal successful revenue. Analysts polled by Refinitiv had expected net of $3.42 and gross of $12.02 billion.

"Given the uncertainty caused by the macroeconomic environment, we are updating our guidance for calendar twelvemonth 2022 3G/4G/5G handset volumes from a year-over-year mid-single-digit percent decline, to a debased double-digit percent decline," Qualcomm said successful the report.

"The accelerated deterioration successful request and easing of proviso constraints crossed the semiconductor manufacture person resulted successful elevated transmission inventory."

Revenue successful Qualcomm CDMA Technologies, oregon QCT category, which includes smartphone chips, vigor frequence front-end components, automotive chips and net of things devices, totaled $9.9 billion. That was up 28%, and it's much than the $9.87 cardinal statement among analysts polled by StreetAccount.

Within the QCT segment, gross from mobile handsets came to $6.6 billion, up 40% and a hairsbreadth supra the StreetAccount statement of $6.59 billion.

The Qualcomm Technology Licensing, oregon QTL, conception produced $1.44 cardinal successful revenue, which was up 8% but little than the $1.58 cardinal StreetAccount consensus.

During the quarter, Qualcomm said it had extended a patent-licensing statement with Samsung done 2030, and Arm, whose spot architectures Qualcomm relies on, filed suit against Qualcomm implicit breach of licence agreements and trademark infringement.

Notwithstanding the after-hours move, Qualcomm shares are down 37% truthful acold this year, portion the broader S&P 500 scale is down 20% implicit the aforesaid period.

Executives volition sermon the results with analysts connected a league telephone starting astatine 4:45 p.m. ET.

This is breaking news. Please cheque backmost for updates.

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