Qualcomm Stock Drops After Its Earnings Beat. Here's Why

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Qualcomm Stock Drops After Its Earnings Beat. Here's Why

^{Published on 2025-02-06 11:40:48 - Kiplinger}

Qualcomm stock is lower Thursday even after the chipmaker reported strong earnings and gave an encouraging outlook. This is what investors need to know.

Qualcomm (QCOM) experienced a significant drop in its stock price despite reporting earnings that beat expectations. The company announced its fiscal Q2 earnings with adjusted earnings per share of $2.44, surpassing the consensus estimate of $2.33, and revenue of $9.39 billion, which was above the expected $9.34 billion. However, the stock fell due to concerns over weaker-than-expected guidance for the next quarter. Qualcomm forecasted revenue between $8.8 billion and $9.6 billion, with the midpoint below the $9.22 billion that analysts had anticipated. Additionally, the company projected adjusted earnings per share to be between $2.15 and $2.35, which was also lower than the $2.23 consensus estimate. The guidance reflects ongoing challenges in the smartphone market, particularly in China, and uncertainties related to the timing of 5G upgrades and inventory adjustments by customers.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/qualcomm-qcom-stock-drops-after-its-earnings-beat-here-is-why ]

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