Qualcomm reports Q4 revenue down 8% YoY to $10.3B, vs. $10.1B est., and handsets revenue down 26% to $5.14B, vs. $5.25B est.; QCOM drops 5%+ after hours (Ian King/Bloomberg)
Total revenue landed at $10.3 billion, surpassing Wall Street expectations of $10.1 billion even with an 8% year-over-year decline. That outperformance was overshadowed by the company's handset division, where sales tumbled 26% to $5.14 billion and missed projected figures. Investors responded quickly to the smartphone weakness, sending Qualcomm's shares down more than 5% during extended trading hours.
Key points
Total company revenue demonstrated resilience against expectations even while contracting…: Total company revenue demonstrated resilience against expectations even while contracting compared to last year.
Severe weakness in the smartphone chip business remains a significant drag on financial p…: Severe weakness in the smartphone chip business remains a significant drag on financial performance.
Investor concern over missing handset estimates triggered a swift selloff in extended tra…: Investor concern over missing handset estimates triggered a swift selloff in extended trading.
Sources checked by our analysis pipeline: 1
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Calder Mchugh / Politico: |
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Ben Thompson / Stratechery: |
Molly White / Citation Needed: |
Madison Mills / Axios: |
Ryan Christoffel / 9to5Mac: |
Mark Gurman / Bloomberg: |
Bloomberg: |
Financial Times: |
Katherine Schwartz / Bloomberg: |
Rafe Rosner-Uddin / Financial Times: |
Bloomberg: |
Connie Loizos / TechCrunch: |
Mike Butcher / Pathfounders: |
Bloomberg: |
Yueqi Yang / The Information: |
Sawdah Bhaimiya / CNBC: |
Isaac Kasahara / Pangram: |
Bloomberg: |
Reuters: |
Jagmeet Singh / TechCrunch: |
SemiAnalysis: |
Madison Mills / Axios: |
Danial Azhar / Bloomberg: |
Reuters: |
Ian King / Bloomberg: |
Ben Gartside / Wired: |
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