US Stock Alert | Q4 Mobile Chip Revenue Plummets 26%, Qualcomm (QCOM.US) Drops Over 11% Pre-market

According to Zhitong Finance APP, on Thursday, Qualcomm (QCOM.US) plunged by more than 11% in pre-market trading to $152.81. In the news, Qualcomm announced its fourth fiscal quarter results: non-GAAP revenue was $10.442 billion and earnings per share were $2.17, both slightly above expectations. However, revenue from Qualcomm's mobile chip business in the fourth quarter was only $5.14 billion, a 26% year-on-year decline and below Visible Alpha's estimate of $5.25 billion.