Qualcomm reported a dip in quarterly earnings as it continues to grapple with regulatory issues and customer disputes. However, profits were ahead of what the company had said to expect.

Separately, the company said it had reached new deals with Samsung, one of its largest customers.

Why it matters: The chipmaker is in the midst of a hostile takeover bid from Broadcom, was just fined by European antitrust regulators and remains in a bitter legal battle with Apple.

Qualcomm posted revenue of $6.1 billion, up 1% from the prior year, while per-share earnings were 98 cents, down 18% from the prior year. Analysts were expecting per-share earnings of around 90 cents, according to Zacks.

"Qualcomm had a good quarter driven by stronger wireless performance," said analyst Pat Moorhead of, Moor Insights & Strategy. "The quarter was good even though Apple isn’t paying royalties, a testament to the company’s diversification."

He also praised the new agreements with Samsung. "The Samsung announcement is important as it lowers Qualcomm uncertainty which has weighed on the stock for a year and contradicts many of Broadcom’s claims of a broken model," Moorhead said.

Nonetheless, shares were trading down fractionally in after-hours trading following the report.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 31,517,087 — Total deaths: 968,726 Total recoveries: 21,622,862Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 6,895,685 — Total deaths: 200,768 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.

Louisville declares state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

Louisville Mayor Greg Fischer declared a state of emergency Tuesday "due to the potential for civil unrest" ahead of Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Trump pushes to expand ban against anti-racism training to federal contractors

Trump speaking at Moon Township, Penns., on Sept. 22. Photo: Mandel Ngan/AFP via Getty Images

President Trump announced late Tuesday that the White House attempt to halt federal agencies' anti-racism training would be expanded to block federal contractors from "promoting radical ideologies that divide Americans by race or sex."

Why it matters: The executive order appears to give the government the ability to cancel contracts if anti-racist or diversity trainings focused on sexual identity or gender are organized. The memo applies to executive departments and agencies, the U.S. military, federal contractors and federal grant recipients.

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