Wall St. didn’t love Qualcomm’s (QCOM) numbers.
Revenues: $2.22 billion, up 21 percent year-over-year and 10 percent sequentially.
Net income: $726 million, up 22 percent year-over-year and 12 percent sequentially.
And, next quarter guidance:
Revenue at $2.2 to $2.3 billion up 13% to 18%, with EPS from $.43 to $.45 up 16% to 20%.
Wall St. expected better from a tech giant and leader in the cell phone chip field. Investors gave in to despair and dropped the shares almost 2% after hours.
Douglas A. McIntyre
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