{"id":43966,"date":"2023-08-03T10:00:58","date_gmt":"2023-08-03T14:00:58","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/qualcomms-stock-loss-accelerates-after-hours-as-revenue-growth-is-tied-to-smartphone-and-china-recovery\/"},"modified":"2023-08-03T10:01:00","modified_gmt":"2023-08-03T14:01:00","slug":"qualcomms-stock-loss-accelerates-after-hours-as-revenue-growth-is-tied-to-smartphone-and-china-recovery","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43966","title":{"rendered":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery"},"content":{"rendered":"
\n

Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an earnings beat.<\/p>\n

Qualcomm
\n QCOM,
\n -10.27%<\/bg-quote>
\n shares, which had been down 2% after hours following the release of results, dropped 7% during the conference call with analysts, as Chief Financial Officer Akash Palkhiwala told analysts that revenue growth will depend upon a recovery in handsets, or phone sales, and a recovery in China, both of which have yet to materialize. The stock closed down 2.1% at $129.27 in the regular session.<\/p>\n

\n

On the call, Palkhiwala told analysts the company expects fiscal fourth-quarter sales of CDMA technologies, or QCT, of $6.9 billion to $7.5 billion. QCT includes handset and radio-frequency, or RF, chips as well as chips for cars and the Internet of Things. Analysts had forecast QCT sales of $7.45 billion. For the third quarter, Qualcomm reported handset revenue of $5.26 billion, a 15% drop from a year ago, while analysts had forecast $5.31 billion.<\/p>\n

The company also forecast sales of Qualcomm\u2019s technology licensing, or QTL, of $1.15 billion to $1.35 billion on a slight sequential increase in handset sales. Analysts had forecast $1.26 billion.<\/p>\n

Palkhiwala told analysts that the company\u2019s fourth-quarter earnings forecast of $1.80 to $2 a share, on revenue of $8.1 billion to $8.9 billion, included expected handset growth in the holiday season. Meanwhile, Wall Street estimated $1.92 a share for the fourth quarter along with revenue of $8.74 billion.<\/p>\n

\u201cAs we approach fiscal 2024, our revenue growth will largely depend on the macroeconomic environment, global handset units and China recovery,\u201d Palkhiwala said. <\/p>\n

\u201cWe continue to estimate that calendar 2023 handset units will be down at least a high-single-digit percentage relative to calendar 2022, reflecting the macro environment and a slower recovery in China,\u201d the CFO told analysts, adding that the forecast includes anticipated holiday sales for handsets.<\/p>\n

The company reported fiscal third-quarter net income of $1.8 billion, or $1.60 a share, compared with $3.73 billion, or $3.29 a share, in the year-ago period. The chip maker reported adjusted earnings, which exclude stock-based compensation expenses and other items, of $1.87 a share, compared with $2.96 a share in the year-ago period. <\/p>\n

Total revenue for the third quarter fell to $8.45 billion from $10.94 billion in the year-ago period. Analysts surveyed by FactSet forecast third-quarter earnings of $1.81 a share on revenue of $8.51 billion.<\/p>\n

Qualcomm reported QCT revenue of $7.17 billion and QTL revenue of $1.23 billion, while analysts had forecast $7.23 billion and $1.25 billion, respectively.<\/p>\n

Year to date, Qualcomm shares are up 17.6%, compared with a 22% gain by the PHLX Semiconductor Index
\n SOX,
\n -0.68%<\/bg-quote>,<\/span>
\n a 17.6% gain by the S&P 500
\n SPX,
\n -0.29%<\/bg-quote>
\n and a 46.8% gain by the tech-heavy Nasdaq Composite Index
\n COMP,
\n -0.05%<\/bg-quote>.<\/span>\n <\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an earnings beat. Qualcomm QCOM, -10.27% shares, which had been down 2% after hours following the release of results, dropped 7% during the conference call with analysts, as Chief Financial Officer […]<\/p>\n","protected":false},"author":1,"featured_media":43967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-43966","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nQualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=43966\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=43966\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-03T14:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-03T14:01:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1691071259_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=43966#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=43966\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery\",\"datePublished\":\"2023-08-03T14:00:58+00:00\",\"dateModified\":\"2023-08-03T14:01:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=43966\"},\"wordCount\":452,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=43966#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=43966\",\"url\":\"https:\/\/ifintechworld.com\/?p=43966\",\"name\":\"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-03T14:00:58+00:00\",\"dateModified\":\"2023-08-03T14:01:00+00:00\",\"description\":\"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=43966#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=43966\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=43966#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld","description":"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=43966","og_locale":"en_US","og_type":"article","og_title":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld","og_description":"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an","og_url":"https:\/\/ifintechworld.com\/?p=43966","og_site_name":"iFintechWorld","article_published_time":"2023-08-03T14:00:58+00:00","article_modified_time":"2023-08-03T14:01:00+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1691071259_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=43966#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=43966"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery","datePublished":"2023-08-03T14:00:58+00:00","dateModified":"2023-08-03T14:01:00+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=43966"},"wordCount":452,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=43966#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=43966","url":"https:\/\/ifintechworld.com\/?p=43966","name":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-03T14:00:58+00:00","dateModified":"2023-08-03T14:01:00+00:00","description":"Qualcomm Inc. shares fell further in Wednesday\u2019s extended session as the chip maker\u2019s forecast was on the low side of Wall Street estimates following an","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=43966#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=43966"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=43966#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Qualcomm\u2019s stock loss accelerates after hours as revenue growth is tied to smartphone and China recovery"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/43966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43966"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/43966\/revisions"}],"predecessor-version":[{"id":43968,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/43966\/revisions\/43968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/43967"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}