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Why Qualcomm Stock Fell Hard Today

TheMotleyFool

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Qualcomm (NASDAQ: QCOM) shareholders are having a bad morning after the semiconductor company reported its fourth-quarter results late yesterday. While the tech giant's earnings were on par with Wall Street's expectations and revenue even beat analysts' consensus estimate, worse-than-expected first-quarter guidance caused investors to panic.

As a result, Qualcomm's shares tumbled 7.2% as of 10:45 a.m. ET.

Let's start with the good news: Qualcomm's non-GAAP (adjusted) earnings per share for the fourth quarter were $3.13, matching analysts' average estimate, and up 23% from the year-ago quarter.

Source Fool.com

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