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BENGALURU\/OAKLAND: Qualcomm<\/a> Inc forecast second-quarter revenue and profit below Wall Street estimates on Thursday as the chipmaker grapples with the combined toll of weak demand for smartphones and a supply glut, a situation that is expected to persist into the first-half of this year.
Inflation and macroeconomic uncertainty have hurt consumer electronics sales, and while Qualcomm has been somewhat buffered by its focus on premium smartphones, analysts said even that market has been hit.
The stock, which initially rose 2.7% in after-hours trading, fell 3%.
\"The handset industry continues to experience reduced demand, and we are now expecting elevated channel inventory levels to persist at least through the first half of calendar 2023,\" Cristiano Amon, Qualcomm CEO told investors.
To cope, he said the company would further cut spending and streamline operations.
On Wednesday, Samsung Electronics<\/a> launched its latest Galaxy S23 series smartphone which now uses 100% of Qualcomm processors globally, but the launch comes at a tough time in the market.
\"Discussions with mobile service providers revealed a continued and deepening weakness in smartphone demand globally which doesn't bode well for Qualcomm,\" said Maribel Lopez, tech analyst at Lopez Research.
Apple, the world's largest listed company, said iPhone sales fell last quarter for the first time since 2020.
Graphic: Smartphone shipments fell in 2022 as spending soured https:\/\/www.reuters.com\/graphics\/QUALCOMM-RESULTS\/zjvqjwwzgpx\/chart.png
Qualcomm has also diversified, pushing into new fast-growing areas such as automotive. Revenue for that business in the fiscal first quarter rose 58% on year to $456 million, although the company expects that to be sequentially flat in the current quarter.
The chipmaker forecast current quarter revenue in the range of $8.7 billion to $9.5 billion, compared with analysts' estimates of $9.55 billion, according to Refinitiv data.
Its fiscal first quarter revenue dropped 12% year-on-year to $9.46 billion, below Wall Street expectation of $9.60 billion.
\"I don't think we have hit rock bottom (for the smartphone market<\/a>) yet. We still have a rough year ahead,\" said IDC analyst Nabila Popal. \"Real recovery is not likely until 2024.\"
First quarter revenue from Qualcomm's handset business, which makes up the largest chunk of total sales, fell 18% on year to $5.75 billion, compared to 40% growth in the previous quarter.
It expects adjusted earnings per share to be between $2.05 and $2.25, compared to analysts expectations of $2.26 per share.
In the first quarter, Qualcomm reported adjusted earnings per share of $ 2.37, which compares with the analyst consensus of $2.34 per share, according to Refinitiv data.
Qualcomm also said during the earnings call that it doesn't expect its current licenses to export 4G, Wi-Fi and other chips to Chinese telecom giant Huawei<\/a> to be impacted by reports that the U.S. Commerce Department has stopped granting export licenses to Huawei.
\"Those licenses were issued because Congress reached the determination that they don't affect national security issues. Those will continue for some number of years,\" Alex Rogers, president of Qualcomm Technology Licensing and Global Affairs<\/a> said on the call with investors.
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高通认为收益低于街是智能手机市场的下跌
“手机行业继续体验需求减少,我们现在期待渠道库存水平升高至少持续到2023年上半年的日历,”克里斯蒂亚,高通公司CEO告诉投资者。
班加罗尔/奥克兰:高通公司预计第二季度收入和利润将低于华尔街预期周四当芯片制造商正在竭力应对死亡的总人数为智能手机和供应过剩需求疲软,这种情况将持续至今年上半年。
通货膨胀和宏观经济不确定性伤害了消费电子产品销售,而高通有些缓冲专注于高端智能手机,分析师表示,市场受到重创。
最初的股票在盘后交易中上涨2.7%,下降了3%。
“手机行业继续体验需求减少,我们现在期待渠道库存水平升高至少持续到2023年上半年的日历,”克里斯蒂亚,高通公司CEO告诉投资者。
为了应付这些,他表示,该公司将进一步削减开支和简化操作。
周三,三星电子推出了其最新的星系S23系列智能手机现在使用高通处理器全球的100%,但在市场上推出之际,艰难。
“讨论与移动服务提供商透露持续和深化智能手机全球需求疲软并不预示着高通,“积极地说,技术分析师洛佩兹的研究。
世界上最大的上市公司,苹果公司说,iPhone销量下降2020年第四季度以来的第一次。
图形:2022年智能手机出货量下降,支出了https://www.reuters.com/graphics/QUALCOMM-RESULTS/zjvqjwwzgpx/chart.png
高通也多样化,推动进入新的快速发展的汽车等领域。第一财政季度业务收入增长58%,至4.56亿美元,尽管该公司预计,在当前季度顺序的公寓。
芯片制造商预测本季度收入在87亿美元到95亿美元的范围,而分析师估计的95.5亿美元,根据Refinitiv数据。
第一财政季度收入同比下降12%,至94.6亿美元,低于华尔街预期的96亿美元。
“我不认为我们有谷底(智能手机市场)。我们仍然有一个粗略的一年,”负责人wafez IDC分析师早而博帕尔。“真正的经济复苏不太可能到2024年。”
第一季度收入从高通的手机业务,占总销售额最大的一块,下降18%至57.5亿美元,而前一个季度增长40%。
预计调整后每股收益2.05美元和2.25美元之间,比分析师的预期每股亏损2.26美元。
今年第一季度,高通公布调整后每股收益2.37美元,相比之下,每股2.34美元的分析师的共识,据Refinitiv数据。
高通在财报电话会议期间还表示,它不希望当前许可出口4 g, wi - fi和其他芯片中国电信巨头华为影响的报道,美国商务部已经停止发放出口许可证到华为。
“这些许可证发行因为国会达成的决心不影响国家安全的问题。那些将持续许多年,”总裁亚历克斯·罗杰斯高通技术许可和全球事务与投资者的电话会议上表示。
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