June 16, 2021

Qualcomm forecasts current-quarter revenue above estimates

1 min read

Qualcomm Inc forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in chip industry has bottomed out.

A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai
FILE PHOTO – A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. REUTERS/Aly Song

REUTERS: Qualcomm Inc forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in chip industry has bottomed out.

The company forecast total revenue in the range of between US$4.9 billion and US$5.7 billion for its second quarter, largely above analysts’ average estimate of US$5.08 billion, according to IBES data from Refinitiv.

(Reporting by Munsif Vengattil in Bengaluru and Stephen Nellis in San Francisco; Editing by Sriraj Kalluvila)