Qualcomm's profit up, meets expectations

For its fourth quarter report, Qualcomm posted a profit of $767 million, or 46 cents a share, which is up from the $648 million, or 38 cents a share, it posted in the year-ago quarter. Revenue was also up 21 percent, to $2.44 billion. Qualcomm expects the current quarter to yield 50 to 52 cents a share on revenue of $2.4 billion to $2.5 billion, which was right in line with analysts' estimates.

For more on Qualcomm's quarter:
- read this release