Shares of Qualcomm Inc. (QCOM) dropped sharply on Thursday after the chipmaker reported a year-over-year decline in first-quarter profit and issued a soft second-quarter outlook.
The stock is currently trading at $137.95, down $10.94 or 7.35%, on the Nasdaq. The stock opened at $132.92 after closing Wednesday at $148.89. The stock has traded between $120.80 and $205.95 in the past 52-week period. Trading volume was significantly above average.
Qualcomm reported first-quarter earnings of $3.00 billion or $2.78 per share, down from $3.18 billion or $2.83 per share a year earlier. Revenue rose 5% to $12.25 billion.
For the second quarter, the company forecast revenue of $10.2 billion to $11.0 billion and adjusted earnings of $2.45 to $2.65 per share.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.