The chipmaker cites rising input costs and memory shortages as it reports in-line Q3 earnings but softer Q4 guidance.
Qualcomm posted fiscal third-quarter adjusted earnings of $2.21 per share on $9.95 billion in revenue, matching LSEG estimates. The company attributed results to steady demand despite ongoing supply constraints, particularly in memory components.
For the current quarter, Qualcomm guided to adjusted earnings of $2.05 to $2.25 per share on $9.7 billion to $10.5 billion in revenue, below analyst expectations of $2.36 per share and $10.02 billion. The company warned of broad-based cost increases across semiconductor production.
Qualcomm will raise prices on its chips starting September 1, targeting margin expansion. The move follows similar actions by peers amid rising input costs for wafer fabrication, packaging, and materials.