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Profit fell 42 percent to $1.7 billion, Qualcomm announced on Wednesday.
Revenue from the smartphone business fell 17 percent to $6.1 billion in the second fiscal quarter that ended in March. According to the calculations of market research firm IDC, smartphone sales dropped by nearly 15 percent in the last quarter. Qualcomm provides processors in a large number of smartphones with Google’s Android operating system, as well as modems for connecting to the mobile network on phones of many providers.
Qualcomm reached $447 million, a 20 percent increase in automobile technology. The group is trying to make business another mainstay with connected and driverless cars. Qualcomm forecasts sales for the current quarter between $8.1 billion and $8.9 billion. Analysts expected more. The stock fell more than 2 percent in after-hours trading.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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