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Qualcomm Inc earnings beat forecasts but revenues suffer narrow miss

Qualcomm Inc earnings beat forecasts but revenues suffer narrow miss
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Qualcomm stock prices falls as quarterly sales disappoint investors

Close icon Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. FILE PHOTO: A Qualcomm sign is pictured at Mobile World Congress (MWC) in Shanghai Reuters Shares of Qualcomm fell on Thursday after the company announced sales that were slightly lower than analysts estimates for the first fiscal quarter. Qualcomm, the world s largest smartphone chipmaker, reported sales that were up by 63% to $8.24 billion year-on-year. Company President Christian Amon however said the company is expecting a shortage in semiconductors  to normalize toward the later part of 2021 as capacity is put in place.

Qualcomm reports massive increase in income, warns about chip shortage in H1 2021

Qualcomm reports massive increase in income, warns about chip shortage in H1 2021 Qualcomm has published its financial results for the past quarter, and they look mightily impressive. During the October-December period, marked as Q1 2021 in the fiscal year of the chip company, revenue increased 62%, while net income soared 165% from $925 million to $2.455 billion. However during a call with investors, CEO Cristiano Amon warned the company is struggling to meet demand and the industry is facing a global shortage for the next six months. (in $ million) 165% Qualcomm supplies all major smartphone companies with chipsets but relies on TSMC and Samsung to manufacture them. However, in the context of the global COVID-19 pandemic, consumers started purchasing more computers to work from home and cars to avoid public transport, meaning companies in these industries also ramped up their chip orders.

Qualcomm Warns of Semiconductor Shortage: What Will This Mean for Smartphone Companies?

4 February 2021, 12:45 am EST By Qualcomm Warns of Semiconductor Shortage: What Will This Mean for Smartphone Companies?  ( Screenshot From Pexels Official Website ) Qualcomm Inc, popularly known as the world s largest smartphone chip maker warns the public regarding its struggle in meeting up with demands. The company signals that there is a global semiconductor shortage that is now spreading. Qualcomm semiconductor shortage According to the report by SCMP, according to Christiano Amon, the incoming CEO, the current shortage in the whole semiconductor industry is going across the board. Just like a lot of chipmakers, Qualcomm still outsources the production of these chips to companies like the Taiwan Semiconductor Manufacturing Co as well as Samsung Electronics Co. these particular suppliers are all trying and are still failing in their attempt to

Qualcomm sets rosy outlook for 2021 with demand for 5G chips

Qualcomm sets rosy outlook for 2021 with demand for 5G chips The company’s revenues were slightly under expectations but it is banking on increasing demand for 5G chips in the coming year. Qualcomm’s latest quarterly earnings didn’t hit Wall Street expectations but the firm anticipates an improved outlook this year with growing demand for 5G chips. The earnings call is one of the last for Qualcomm under its current CEO Steve Mollenkopf, who will retire this year. The chipmaker announced $8.23bn in revenue in its last fiscal quarter, up 63pc year over year. Qualcomm’s chip division, QCT, makes up the lion’s share of the company’s revenue. The growth of 5G smartphones on the market has fuelled an uptake of Qualcomm’s chips with the handset segment of QCT reporting $4.2bn in revenue in the quarter, a growth of 79pc compared to 12 months ago. It also saw strong gains in sales of its automotive and internet of things (IoT) chips.

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