Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones
Publishing timestamp: 2024-05-01 17:47:57
Summary
Qualcomm reported strong earnings for the fiscal second quarter, surpassing Wall Street expectations and providing a strong guide for the current quarter. Handset sales rose 1% year over year, signaling a potential recovery in the smartphone market. Demand for "premium tier" smartphones requiring advanced chips is strong, especially in China. The company's automotive business also showed growth, while revenue in the "Internet of Things" business declined. Qualcomm raised its quarterly dividend and saw an increase in its licensing business.
Sentiment: POSITIVE
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Keywords: apple inc, breaking news: technology, technology, mobile, qualcomm inc, business news, earnings, dividends, products and services, business,
Source: https://www.cnbc.com/2024/05/01/qualcomm-earnings-report-q2-2024.html