Earning call is horrible - looks like layoffs are inevitable

Chips for phones down 17%.
China market not recovering (biggest market).
Sales below street expectations. Earnings below expectations.
Shipments for global smartphones down 14%.
CEO states “ The evolving macroeconomic backdrop has resulted in further demand deterioration, particularly in handsets, at a magnitude greater than we previously forecasted,” Amon said on a call with analysts.

Anyone who thinks the earning report was positive is an id--t and hopefully is the first the be fired!

https://www.cnbc.com/2023/05/03/qualcomm-qcom-earnings-report-q2-2023.html

3 replies (most recent on top)

I think the point is you have a bad management team.

If all these factors were out since October than our CEO should go into acting bc his responses would disagree with your statement

All of these factors have been out there since October, hard to believe how bad they missed the market.