Qualcomm Reports 25% Drop in Net Income Amid Rising Chip Costs
Earnings·3 articles across 3 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Qualcomm's net income fell 25% as higher memory chip prices impacted its device business. The company also indicated that it plans to raise prices in response to the ongoing memory crunch, as CEO Cristiano Amon stated, "Cost went up, prices are going to go up."
The chipmaker's earnings report revealed that it came up short on its bottom line, leading to a decline in its stock price as investors reacted to the memory woes affecting its earnings.
Qualcomm
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Net income falls 25% as higher memory chip prices hit device business”
FT — Qualcomm posts shrinking sales and profits as chip costs hurt smartphone market“"Cost went up, prices are going to go up," Qualcomm CEO Cristiano Amon said in an interview.”
CNBC — Qualcomm to raise prices during memory crunch as chipmaker issues light earnings guidance“The chip company came up short on its bottom line.”
MarketWatch — Qualcomm's stock falls as memory woes weigh on earnings
Earlier versions
- Jul 29, 8:37 PM — Qualcomm Reports 25% Drop in Net Income as Rising Costs Impact Smartphone Sales (1/1)