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People walk past Qualcomm’s stand during the Mobile World Congress in Barcelona, Spain in this February 24, 2016, file photo.
Reuters/Albert Gea/Files
Qualcomm Inc (QCOM.O) reported a 19.5 percent fall in quarterly revenue, hurt by lower demand for its chips for mobile devices amid stiff competition from Chinese and Taiwanese rivals.
The San Diego-based company’s total revenue fell to $5.55 billion in the second quarter ended March 27, from $6.89 billion a year earlier.
Net income attributable to Qualcomm rose to $1.16 billion, or 78 cents per share, from $1.05 billion, or 63 cents per share.
(Reporting by Kshitiz Goliya in Bengaluru; Editing by Savio D’Souza)