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Qualcomm posts higher quarterly results, outlook weighs

24
Jul
2014

By Noel Randewich SAN FRANCISCO (Reuters) – Leading mobile chipmaker Qualcomm Inc posted higher fiscal third-quarter results, but its revenue outlook for the September quarter was below Wall Streets expectations, depressing its stock price. The chipmaker on Wednesday reported third-quarter revenue of $6.81 billion, up 9 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $6.52 billion, according to Thomson Reuters I/B/E/S. Qualcomm had third-quarter net income of $2.24 billion, up 42 percent. GAAP diluted earnings per share were $1.31. …

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