By John Oates, 25 January 2002 07:50
NEWS Qualcomm reported reasonable results yesterday but watched its shares fall in after hours trading. The mobile chip-maker made sales of $699m in the first quarter ended December 31, up from $655m a year ago. It made a profit of $139m, against a $419m loss for the same period a year ago. But the company warned that the current quarter was proving tough. This pushed its shares down four per cent after the markets closed. Qualcomm expects sales in the current quarter to be lower due to the economic downturn and normal weak seasonal demand for mobile products with revenue tipped to fall between three and six per cent. The company expects an upturn in the second half of the year as it starts to sell its next generation CDMA products.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below