SAN FRANCISCO: Leading mobile chipmaker Qualcomm posted higher fiscal third-quarter revenue that beat analysts' expectations as demand in the smartphone market shifts to China and other price-sensitive developing countries.
The chipmaker on Wednesday reported third-quarter revenue of $6.81 billion, up 9% 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%. GAAP diluted earnings per share were $1.31. Its non-GAAP earnings per share were $1.44, well above the midpoint of its previous forecast of between $1.15 and $1.25.
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