Chip giant Qualcomm closes deal with Huawei | Financial

Investors seem very excited about the deal. In the so-called after-trade in New York, the Qualcomm share skyrocketed. Huawei ranks as a major provider of 5G phones and network equipment. The company is controversial. Huawei has been accused by the United States, among other things, of espionage practices. There is also a lot of mistrust towards the Chinese group in other countries.

The deal with Huawei is not yet reflected in the financial results for the past quarter. Adjusted earnings remained roughly the same as a year earlier, at $ 4.9 billion. However, Qualcomm also had a profit, with an adjusted net result of $ 982 billion.

The quarterly figures have been corrected for, among other things, a large settlement with Apple on patent issues, as a result of which Qualcomm received one-off extra money a year ago. For the current quarter, the company expects adjusted sales of between $ 5.5 billion and $ 6.3 billion.


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