Qualcomm Throws Fuel on Critics Fire, Warns on Profit and Revenue

Qualcomm (QCOM) is lowering its profit and revenue forecast for the year. The company now expects revenue to be between $25 and $27 billion for the year, down from $26 to $28 billion. It also took a scalpel to earnings as it blamed a decline in marketshare on a large customer, widely speculated to be Samsung. The disappointing outlook overshadowed what was a better than expected first quarter. The lower guidance also gives fuel to activist investor Jana Partners, which has been pressuring the company to split its chip design business from its technology licensing business. Qualcomm shares are down 14% over the past year.