Qualcomm Revenue Beats as Mobile Chip Demand Soars

Qualcomm reported quarterly revenue that beat Wall Street expectations as demand increased for chips in devices such as smartphones and tablet computers.

The chip maker's shares [QCOM 61.68 3.5587 (+6.12%) ] climbed more than 4 percent after the closing bell, following the news. (Click here to get real-time quotes for Qualcomm.)

Qualcomm's profit for its fiscal fourth-quarter ended Sept. 30 rose 20 percent from the year-ago quarter to $1.27 billion, or 73 cents per share.

Its revenue of $4.87 billion was up 18 percent from the year-ago quarter and compared with Wall Street expectations for $4.66 billion, according to Thomson Reuters data.

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- Posted: 2012-11-08 13:25:30

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