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Qualcomm Shares Slide
Qualcomm shares fell in after-hours trading following the release of mixed quarterly results. Revenue came in at $10.32 billion, above expectations of $10.11 billion, while the report said earnings were below expectations—even though adjusted earnings per share were $2.17, compared with $2.16 expected. The company’s revenue declined 8% year over year, and mobile-chip sales fell 26% to $5.14 billion, amid pressure on the smartphone market from higher memory costs. By contrast, automotive-chip revenue surged 89% to $1.99 billion, and the company forecast $5 billion in data-center revenue in fiscal 2027.
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