Qualcomm beats expectations in Q1, but predicts a lower Q2 due to memory shortages‎

“We’re starting to see that memory is going to define the size of the mobile market,” said Cristiano Amon, CEO of Qualcomm. While the company doesn’t purchase memory chips directly, its customers do – and their sales will be affected in the coming quarter. For its first fiscal quarter, Qualcomm beat estimates with revenue of $12.25 billion and adjusted earnings per share (EPS) of $3.50. Analysts polled by the London Stock Exchange had predicted $12.21 billion in revenue and $3.41 EPS. Net income was $3 billion or $2.78 per share. For comparison, the first quarter of last year saw $3.18...