Mobile chip maker Qualcomm’s quarterly profit plunged 46 per cent as it lost a key customer and its highly profitable licensing business suffered due to a Chinese government probe into its anti-competitive practices.
Net income attributable to Qualcomm fell to $US1.05 billion, or 63 cents per share in the second quarter ended March 29 from $US1.96 billion, or $US1.14 per share, a year earlier.
Qualcomm, which is facing problems collecting royalties in China, said revenue rose to $US6.89 billion from $US6.37 billion.
The stock was off 2% in early after-hours trading.
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