Global economic headwinds that began late last year continue to batter Qualcomm's financial results, with weak demand for smartphones and bloated inventories at manufacturers expected to linger at least through the first half of this calendar year.
While the wireless technology firm reported solid financial results Thursday for its fiscal first quarter ended Dec. 25, its outlook for the current quarter came up short of Wall Street analysts' forecasts.
San Diego's largest publicly traded company indicated that it would "actively manage operating expenses" to navigate the current slowdown, said Chief Executive Cristiano Amon in a conference call with Wall Street analysts.
