3droulette| Qualcomm's solid quarterly outlook shows smartphones continue to recover

Qualcomm, the world's largest seller of smartphone processors, has a solid outlook for the current quarter, indicating that demand for mobile phones continues to recover.

The company announced Wednesday that revenue for the three months to June will be between $8.8 billion and $9.6 billion. Earnings per share excluding some items is 2.3droulette.15-2.35 dollars. Analysts had expected revenue of $9.08 billion, or $2.16 a share.

This outlook shows that after two years of decline, demand has begun to rebound. Qualcomm had expected a gradual recovery in the smartphone market in 2024.

The shares rose about 5 per cent in after-hours trading after the announcement. The stock closed earlier at $164.03 in New York, up 13% so far this year.

In the long run, CEO Cristiano Amon has been trying to move into personal computers, cars and its3drouletteHe is in the market to reduce his dependence on mobile phone chips. But Qualcomm still relies heavily on demand for mobile phones.

Earnings per share, excluding certain items, were $2.44 for the fiscal second quarter ended March 24. Revenue rose 1% to $9.39 billion. Analysts had expected earnings per share of $2.32 and revenue of $9.32 billion.

Smartphone revenue grew 1% last quarter, down from 16% in the previous quarter.

Qualcomm's Internet of things business revenue fell 11% due to the impact of excess inventory. Qualcomm's auto business revenue grew by 35%.

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