Qualcomm stock slides after lighter earnings guidance offsets strong results

Qualcomm reported quarterly financial results on Wednesday that exceeded Wall Street expectations, CNBC Tech reported. However, the semiconductor maker issued a weaker earnings forecast than anticipated for the current quarter. The announcement caused Qualcomm stock to slide 7 percent in extended trading, according to CNBC Tech. [1]

For the current quarter, Qualcomm expects earnings per share of between $2.15 and $2.35 on projected revenue of $10.4 billion to $11.2 billion, CNBC Tech reported. Wall Street analysts polled by LSEG had expected earnings per share of $2.27 on revenue of $10.48 billion. Pluang also reported that Qualcomm revenue fell 7 percent due to weak smartphone demand and the loss of business from Apple. [1][2]

The company makes most of its chipset revenue from system-on-chips and modems used in smartphones, CNBC Tech reported. Qualcomm operates two main business segments, including Qualcomm CDMA Technologies, which designs Snapdragon processors used in mobile devices, automotive systems, and artificial intelligence, and Qualcomm Technology Licensing, which collects intellectual property royalties. [1][4]

The latest financial outlook follows earlier challenges in the mobile market. As FTMQ Tech reported earlier, Qualcomm smartphone chip sales dropped by approximately 20 percent compared to 2025 levels. In response to declining mobile phone sales, Qualcomm planned to expand into artificial intelligence data center hardware, partnering with Meta and Amazon earlier in the year. [5]