The Canadian PressNovember 6, 2013 18:33
SAN DIEGO - Qualcomm Inc.'s net income increased 18 per cent in its fiscal fourth quarter, helped by higher chip shipments.
But the company's earnings still fell short of Wall Street's forecast, as did its outlook for the current period. Shares fell in after-hours trading Wednesday.
Qualcomm reported net income of $1.5 billion, or 86 cents per share, in the three months ended Sept. 29. That compares with net income of $1.27 billion, or 73 cents per share, in the same quarter last year.