
Qualcomm reports 13.3 percent rise in revenue beating expectations
FirstpostSmartphone chipmaker Qualcomm Inc, which agreed to buy NXP Semiconductors NV for about $38 billion last week, reported a better-than-expected 13.3 percent rise in quarterly revenue, helped by strong demand, particularly in China. The San Diego-based company, which supplies chips to Android smartphone makers and Apple Inc, reported mobile chip shipments of 211 million for the quarter compared with its own forecast of 195 million-215 million. “Our chipset business is also benefiting from a strong new product ramp across tiers, particularly with fast growing OEMs in China,” said Qualcomm Chief Executive Officer Steve Mollenkopf. Net income attributable to Qualcomm rose to $1.60 billion, or $1.07 per share, in the fourth quarter ended Sept. 25, from $1.06 billion, or 67 cents per share, a year earlier.
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