Qualcomm Stock Slumps On Downbeat Q2 Earnings Guidance
Synopsis
The company’s Q1 revenues and adjusted earnings per share, however, beat Wall Street expectations.
Qualcomm Incorporated (QCOM) on Wednesday forecast second quarter earnings below Wall Street expectations, sending shares tumbling down 7% after hours.
For the second quarter, the company sees adjusted earnings of $2.45 - $2.65, lower than the $2.87 expected by Wall Street.
The company reported Q1 revenues of $12.25 billion, up from $11.67 billion reported in the corresponding quarter of fiscal 2025, and above an analyst estimate of $12.15 billion.
Adjusted diluted earnings per share in the quarter came in at $3.50, above the $3.4 expected by Wall Street.
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