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Top related persons:
Bob Bruggeworth - 2 Apple - 2 Qorvo - 1 Zaheer Kachwala - 1 Pooja Desai - 1 Dado Ruvic - 1 Akash Palkhiwala - 1 Palkhiwala - 1
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Greensboro North Carolina San Diego , California China U.S Bengaluru San Francisco
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Apple - 2 Thomson - 2 Qualcomm - 1 REUTERS - 1 Huawei - 1 Philadelphia - 1 Semiconductor - 1 SOX - 1

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2 mentions found


☆ Qorvo forecasts second-quarter revenue above estimates on strength from Apple
  + stars: | 2023-08-02 | by ( ) www.reuters.com   time to read: +1 min
Aug 2 (Reuters) - Wireless connectivity chip maker Qorvo (QRVO.O) projected second-quarter revenue above market estimates on Wednesday, as it expects more business from its biggest customer, Apple (AAPL.O). As a result, the company expects revenue in the second quarter to increase sequentially by over 50% and expects year-over-year revenue growth in fiscal 2024. Apple contributed 37% to the company's total revenue in fiscal 2023, ended April. Qorvo said it expected revenue of about $1 billion, plus or minus $15 million, for the second quarter, which was above analysts' expectations of $959.8 million. Analysts on an average had expected revenue of $639.8 million.
Persons: Bob Bruggeworth, Apple, Qorvo, Zaheer Kachwala, Pooja Desai Organizations: Apple, Thomson Locations: Greensboro, North Carolina
☆ Qualcomm forecasts sales below estimates as smartphone slump persists
  + stars: | 2023-08-02 | by ( Chavi Mehta Stephen Nellis Max A. Cherney | Chavi Mehta | Stephen Nellis | ) www.reuters.com   time to read: +4 min
REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company estimated fourth-quarter revenue of $8.1 billion to $8.9 billion, while analysts polled by Refinitiv expected $8.70 billion. Qualcomm forecast a fourth-quarter adjusted earnings range with a midpoint of $1.90, in line with analysts' consensus estimate of $1.91 per share according to Refinitiv data. It forecast adjusted fourth-quarter earnings per share of $1.80 and $2, compared to estimates of $1.91. The automotive sector was a bright spot as Qualcomm seeks to diversify beyond smartphone chips.
Persons: Dado Ruvic, Akash Palkhiwala, Palkhiwala, Refinitiv, Cristiano Amon, MediaTek, Apple, Bob Bruggeworth, NXP, Amon, Kinngai Chan, Chavi Mehta, Cherney, Stephen Nellis, Arun Koyyur, Richard Chang Organizations: Qualcomm, REUTERS, Huawei, Philadelphia, Semiconductor, SOX, Apple, Summit, U.S, Thomson Locations: San Diego , California, China, U.S, Bengaluru, San Francisco
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