Qcom earnings

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Here's how the chipmaker did for the quarter ending Dec. Qualcomm is best known for making smartphone chips — both the modems that connect them to cellular networks, as well as the processors at the heart of high-end Android devices. Under CEO Cristiano Amon, Qualcomm has been working to apply its chip technology to markets beyond smartphones, including PCs, cars and virtual reality headsets. But it's still a major smartphone supplier as the global market has slumped over the past two years. Qualcomm said it expected global handset sales would be flat year over year. Notably, Samsung's high-end Galaxy phones launched in January use Qualcomm processors, and the company expects that business to continue for several years under a new deal, foreclosing the possibility that the second-largest smartphone maker would eschew Qualcomm for its own chips. Qualcomm's Internet of Things business includes the chips Meta uses in its virtual reality headsets.

Qcom earnings

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Qualcomm reported third-quarter earnings on Wednesday that beat Wall Street expectations, but revenue and guidance for the fourth quarter came up short. Qualcomm is exposed to the slumping smartphone industry because it makes the processors at the heart of most high-end Android devices and many lower-end phones. Shipments of new devices are expected by analysts to decline in and Qualcomm repeated that it expects handset units to decline a "high-single digit percentage" this year, partially due to a slow China recovery. However, the chipmaker said it sees growth in handsets starting in the holiday season. The segment also includes chip sales to Meta for its Quest VR headsets. Qualcomm CEO Cristiano Amon highlighted the chipmaker's artificial intelligence strategy in a statement as semiconductor firms seek to capitalize on the industry focus on the chips needed to run software like OpenAI's ChatGPT. He said Qualcomm's ability to run AI models on phones, instead of on cloud servers, gives the company a chance for an "inflection point" that could drive growth in the future. The company said that it will implement more cost-saving programs in the first half of next year.

Qcom earnings

Here's how the chipmaker did for the quarter ending Dec. Qualcomm is best known for making smartphone chips — both the modems that connect them to cellular networks, as well as the processors at the heart of high-end Android devices. Under CEO Cristiano Amon, Qualcomm has been working to apply its chip technology to markets beyond smartphones, including PCs, cars and virtual reality headsets. But it's still a major smartphone supplier as the global market has slumped over the past two years. Qualcomm said it expected global handset sales would be flat year over year. Notably, Samsung's high-end Galaxy phones launched in January use Qualcomm processors, and the company expects that business to continue for several years under a new deal, foreclosing the possibility that the second-largest smartphone maker would eschew Qualcomm for its own chips. Qualcomm's Internet of Things business includes the chips Meta uses in its virtual reality headsets. Qualcomm is betting heavily on selling chips to automakers and car suppliers, but it's a process that will take years as car parts have a long "qualification" cycle due to regulations and the needs of the industry. Amon told analysts on a call that Apple had agreed to extend its patent licensing agreement through March

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