Bengaluru
Qualcomm Inc forecast fourth-quarter profit below analysts’ estimates as the company’s escalating patent battle with Apple Inc continues to take a toll on its licensing business.
Qualcomm forecast adjusted profit of 75 cents to 85 cents per share and revenue of $5.4 billion to 6.2 billion for the current quarter. The company said the forecast excluded licensing revenue related to the sale of Apple products by contract manufacturers as well as the other unnamed licensee in dispute. The chipmaker also reported a steep fall in third-quarter profit as Apple’s contract manufacturers withheld royalties that they were expected to pay to Qualcomm.
