Qualcomm Forecasts Profit That May Miss Some Estimates
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Qualcomm Inc., the largest seller of semiconductors for mobile phones, fell after forecasting fiscal third-quarter profit that may miss some analysts’ estimates as average phone prices come under pressure.
Net income in the period that ends in June will be 80 cents to 88 cents a share, San Diego-based Qualcomm said yesterday in a statement. Analysts on average had projected earnings of 87 cents, according to data compiled by Bloomberg. The shares dropped as much as 6.4 percent.