Qualcomm said its fiscal third-quarter profit increased 15 percent based on demands for mobile-phone chips and CDMA technology, but the company's stock fell as Qualcomm issued fourth-quarter projections that were below the Street's forecasts. Qualcomm said it would earn 39 cents to 41 cents a share from operations on revenue of $1.88 billion to $1.98 billion. Wall Street was expecting the company to earn 42 cents a share on revenue of $1.99 billion. For the third quarter, Qualcomm said it earned $643 million, or 37 cents a share, compared with $560 million, or 33 cents, a year ago.
To read more about Qualcomm's fiscal third-quarter results:
- check out this article from Dow Jones