Qualcomm stock falls more than 5 percent on outlook

Getty Images Qualcomm President Derek Aberle displays a LG G Flex 2 smartphone that contains Qualcomm's Snapdragon 810 chip.

Getty Images
Qualcomm President Derek Aberle displays a LG G Flex 2 smartphone that contains Qualcomm’s Snapdragon 810 chip.

Qualcomm stock fell about 6 percent in after-hours trading after the company lowered its chip guidance for the second half of the year.

The company reported Q1 adjusted earnings of $1.34 per share, compared to Wall Street estimates of $1.25. Revenues for the quarter came in at $7.10 billion, beating estimates of $6.94 billion.

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