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Qualcomm announces third-quarter 2023 earnings: mobile phone chips drag down results, plans to cut jobs and cut costs

Qualcomm Announces FY 2023 Third Quarter Results (Ended June 25, 2023) with Quarterly Revenue of 84.$5.1 billion, compared to 109 in the same period in the previous fiscal year..$400 million down 23%; net profit at 21.$05 billion, compared to 42 in the same period last fiscal year..$400 million down 52%; diluted earnings per share of 1.$6, compared to $3 for the same period in the previous fiscal year..$29 down 51%。Revenue from Qualcomm's business unit responsible for selling mobile phone chips fell 25% year-on-year to 52.$600 million, sparking market concerns, which led to a fall in share prices。

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