KEY TAKEAWAYS Qualcomm stock is falling 5% in premarket trading Thursday, a day after the company's lower-than-estimated licensing revenue offset record quarterly sales.The chipmaker reported fiscal 2025 first-quarter revenue and profit above Visible Alpha estimates.

Qualcomm on Wednesday forecast sales and profits above analyst expectations as artificial intelligence features helped fuel demand for smartphones, and its share price fell after the bell on expectations of flat revenue from its patent licensing business.

Despite all these outsized beats, Qualcomm stock took a nosedive about 20 minutes after the earnings release, before the earnings call began. Intellectual property licensing reven