Qualcomm shares tumbled 5.25% in after-hours trading on Wednesday after the company posted fiscal third‑quarter earnings that missed analyst forecasts and issued a softer‑than‑expected outlook for the current quarter.

The chipmaker reported adjusted earnings of $2.21 per share, slightly below the $2.23 consensus estimate, while revenue of $9.95 billion topped expectations. However, investors focused on the guidance: Qualcomm projected fourth‑quarter adjusted EPS of $2.05 to $2.25, well short of the $2.36 analysts had forecast, and revenue of $9.7 billion to $10.5 billion, versus the $10.02 billion estimate.

The sell‑off reflected mounting concerns over rising supply‑chain costs, which the company said have pressured margins and will lead to double‑digit price increases on its chip portfolio starting September 1. Handset revenue dropped 20% year‑over‑year, and Qualcomm warned that Apple product revenues would decline faster than expected beginning in the fourth quarter due to supply constraints. The earnings miss and cautious guidance overshadowed positive announcements on the same day, including the completion of the Modular acquisition and a long‑term chip supply deal with BMW.