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Why Qualcomm Stock Fell 9% Despite Beating Earnings Estimates

Given its overall fiscal fourth-quarter numbers posted after Wednesday's close, Qualcomm (NASDAQ: QCOM) shares should have soared on Thursday. Although the chipmaker's revenue fell 7% year over year to $10. 4 billion, the dip was expected and came in above analysts' estimates of $10. 1 billion. The company also earned $2. 17 per share, down from $3 a year earlier, but slightly better than the $2. 16 per share analysts had anticipated.

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