Apple's Legal Battle Is Wrecking Qualcomm's Licensing Business in More Ways Than One
Mobile chip giant Qualcomm (NASDAQ: QCOM) reported fiscal third-quarter earnings last night, and the company's licensing business expectedly took a major hit due to the ongoing and escalating legal battle with Apple (NASDAQ: AAPL). Qualcomm had previously warned investors of the expected financial impact, reducing its revenue guidance by $500 million in April; Apple's decision to withhold all royalties caught Qualcomm off guard, and Qualcomm updated its outlook as soon as it realized that the iPhone maker would be playing hardball.
The numbers for the Qualcomm technology licensing (QTL) segment speak for themselves:
QTL
Source: Fool.com
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