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Qualcomm results fall as Apple withholds royalties

2017-07-20 08:23:00| Telecompaper Headlines

(Telecompaper) Qualcomm reported lower results for its fiscal third quarter to June, hurt by its dispute over licensing payments from Apple. Revenues fell 11 percent year-on-year to USD 5.4 billion, and net profit was down 40 percent to USD 0.9 billion or 58 cents a share. The results are in line with the chipmaker's reduced guidance, issued in late April after Apple's contract manufacturers stopped paying royalties. The lack of information from these customers meant Qualcomm did report figures on device shipments for the quarter.

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