Qualcomm Incorporated (QCOM) on Wednesday forecast second quarter earnings below Wall Street expectations, sending shares tumbling down 7% after hours.

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For the second quarter, the company sees adjusted earnings of $2.45 - $2.65, lower than the $2.87 expected by Wall Street.

The company reported Q1 revenues of $12.25 billion, up from $11.67 billion reported in the corresponding quarter of fiscal 2025, and above an analyst estimate of $12.15 billion.

Adjusted diluted earnings per share in the quarter came in at $3.50, above the $3.4 expected by Wall Street. 

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