On August 1, Qualcomm released its third quarter financial report for fiscal year 2019. According to Phoenix Technology, Qualcomm CEO Steve Mollenkopf said that due to Huawei's rapid development in the Chinese mobile phone market, many Qualcomm customers in China began to focus on the development of 5G and canceled many 4G model orders, which in turn affected Qualcomm's performance outlook.
Earlier, Qualcomm released its third quarter financial report for fiscal year 2019, showing that Qualcomm's third quarter revenue was $9.6 billion and net profit was $2.1 billion, both up more than 70% year-on-year, and revenue was lower than expected. In after-hours trading this morning, the stock fell by 5%.
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