Qualcomm sidestepped the worst of global economic headwinds during its fiscal third quarter, posting better-than-expected financial results thanks to continued diversification of its mobile technologies beyond smartphones.
But San Diego's largest publicly traded company doesn't expect to be able to dodge global economic woes forever. With inflation and lingering pandemic measures weighing on consumers, Qualcomm on Wednesday forecast upcoming fourth quarter financial results that were below Wall Street analysts' expectations.
Investors were watching Qualcomm results closely for signs of a recovery amid mixed results from other semiconductor companies this earnings season. But Qualcomm's softer-than-expected guidance didn't give them what they wanted, and the company's share price dipped nearly 4 percent in extended trading Wednesday afternoon.
