Shares of Qualcomm Inc. (NASDAQ: QCOM) plunged about 5.50% in early trade after the semiconductor company, late last evening, provided lower-than-expected guidance on fiscal third quarter earnings although its outlook on revenue exceeded Wall Street’s expectation. For the fiscal second quarter, Qualcomm posted adjusted earnings of $1.17 a share, in-line with analysts’ expectation. Revenue stood at $6.12 billion, beating analysts’ consensus estimate of $6.09 billion.
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