(Reuters) – Qualcomm released a turnover forecast for the current quarter slightly lower than Wall Street on Wednesday, declaring a gloomy demand for its semiconductors intended for smartphones, in a context of concerns about the macroeconomic environment and global trade.
The title of the firm based in San Diego in California plunged 6% in post-clothing stock exchange.
Although the chips produced by Qualcomm are not currently targeted by the important customs duties decided by US President Donald Trump, the slowdown in economic growth has harmed demand.
In documents communicated on Wednesday, the group said it was unable to determine the repercussions that new customs of customs and “other measures” may have on its activities.
Qualcomm anticipates for the current quarter of sales around $ 10.30 billion, while analysts expected a median amount of $ 10.35 billion according to LSEG data.
In the second quarter, it also provides adjusted profit between 2.60 dollars and $ 2.80 per share. The expected median is greater than the consensus which appeared at 2.67 dollars per share.
Increased trade tensions between the United States and China has thrown a shadow on Qualcomm’s activities on the Chinese market – its main market, which represented around 46% of the group’s total fiscal sales.
Over the period January-March, Qualcomm’s adjusted profit established at 2.85 dollars per share and its sales reached $ 10.98 billion, beating the consensus which emerged at $ 10.66 billion.
(Arsheeya Bajwa in Bangalore and Max A. Cherney in San Francisco; Jean Terzian)
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