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Qualcomm shrugs off loss of Huawei sales as 4Q beats forecast

US chipmaker expects 5G to provide further boost to earnings despite trade war

Qualcomm expects its investments in 5G will start to pay off in the first half of 2020   © Reuters

PALO ALTO, U.S. -- Qualcomm beat fourth-quarter earning expectations despite making no sales to Huawei Technologies during the quarter, the U.S. chipmaker announced on Wednesday, saying it logged solid growth in its licensing business and expects commercialization of 5G to boost revenue further next year.

Qualcomm's total revenue dropped to $4.81 billion in the quarter through September. This is down $1 billion from a year ago but better than the Wall Street analyst consensus of $4.76 billion, as the impact of the ongoing trade war between the U.S. and China eases.

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